Electric powertrain supplier Hypercraft has completed its Series A funding round, raising $26 million, which values the company at $106 million.

Hypercraft will use the funds to develop its e-mobility software and create an open ecosystem that third-party developers can create apps for, to simplify the integration of new technology for OEMs.

In February, Hypercraft unveiled HyperLynk, an intelligent communication system that unifies existing protocols, integrating more than 150 system components into its controls architecture.

The financing was led by venture capital firm Stalwart Ventures and included Abu Dhabi-based investment company Strategic Development Fund (SDF).

“This investment gives us the funds needed to push further into hybrid systems, intelligent powertrain controls and software-defined vehicle solutions,” said Hypercraft CEO and co-founder Jake Hawksworth.

Source: Hypercraft