TechCrunch Startup News Conifer locks down $20M seed round for its ‘drop-in’ electric hub motor
Apr 16, 2025
A group of engineers from Lucid Motors and Apple's electric car project has launched a startup redefining electric hub motors. They focus on cost-effective designs using ferrite magnets. The startup secured a $20M seed round, highlighting their innovative approach. With potential impacts on the small mobility sector, they aim to reshape the future of electric transportation. Tune in to hear about their vision and market strategies!
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Rare-Earth Free Motor Innovated
- Conifer’s motor uses abundant ferrite magnets instead of rare-earth elements, reducing cost and supply risk.
- This choice enhances efficiency while enabling more stable supply chains amid geopolitical tensions.
Drop-in Motors Target Small Mobility
- Conifer targets small mobility markets with a drop-in hub motor for easy replacement.
- It serves on- and off-road vehicles, along with interest from lawnmower and HVAC sectors.
Founder’s EV Enthusiasm Sparks Startup
- Ankit Samani embraced the EV space as an enthusiast despite not having a background at EV companies.
- Frustrated by the lack of innovation and investment in electric motors, he saw a clear market gap.