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Business/Financial

Electric Motor Startup H3X Raises $20 Million With Additional Funding From Lockheed Martin

By Cal Biesecker

Tuesday, August 6th, 2024

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Electric Motor Startup H3X Raises $20 Million With Additional Funding From Lockheed Martin

H3X's HPDM-30 motor that weighs four kilograms and and generate 33 kilowatts of continuous power. Photo: H3X

H3X, an electric propulsion technology startup developing high-power density motors for a range of applications, on Tuesday said it has raised $20 million in an early-stage round, including a follow-up investment from Lockheed Martin [LMT]. “This funding round will enable us to scale up production and operations and deliver on some very large contracts in our pipeline,” Jason Sylvestre, co-founder and CEO of Denver-based H3X, said in a statement. He told Defense Daily in an email response to questions that…

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