ARLINGTON (VA) — A Crystal City-based startup that aims to improve the motors in electric vehicles has raised $1 million, according to reports.
According to the Washington Business Journal, Torev Motors received $350,000 in donations from friends and relatives.
According to WBJ, the company recently closed a $650,000 pre-seed round. BetterWay Ventures and Climate Avengers were among the top contributors. Locally, Alexandria-based Intbox Ventures also contributed venture capital to the green-technology startup.
Read full story in the Washington Business Journal.