If you believe that high-profile investors add to your credibility, then the folks at tiny EcoMotors are having a good day.
Vinod Khosla and Bill Gates on Monday said they are the sole investors in a series B round for EcoMotors. The money will allow the Troy, Mich.-based company to complete engineering and testing of its efficiency-minded car engine, called Opoc.
CEO Don Runkle told the Detroit Free Press that the value of the investment was $23.5 million. Khosla Ventures provided a smaller series A round for the 2-year-old company, which has about three dozen employees.
Although there'… Read more