GSR Ventures leads $84m round in Protean Electric
GSR Ventures has led an $84 million funding round in US-based Protean Electric, a developer of in-wheel electric drive systems. The capital will be used to set up manufacturing facilities in Liyang, Jiangsu province, bringing Protean's electric drive technology into production.
New Times Group, a Liyang-based industrial group, and Oak Investment Partners, Protean's first venture investor, also participated in the funding round. The Liyang government is providing prototype manufacturing...
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