C-Motive Technologies, a company developing an electric motor technology to improve the performance of systems while reducing operational and capital costs, announced recently it has raised $750,000 in its latest round of funding.

The round was led by two angel investors from the Madison region.

“The financing will enhance not only the technology development but also accelerate our customer development,” C-Motive Technologies CEO Justin Reed said. ” One of our primary goals with this financing is to show customers that this new physical platform technology works and competes directly with conventional motors.”

According to an interview with Reed, the money will be used to complete the company’s prototype motors and launch them for customer evaluation across several candidate markets and applications.

To date, the company has raised more than $1 million in government grants and contracts, including from the Center for Technology Commercialization.