Innovacorp invests $250k to ramp up Atlantic Motor Labs' new motor design
Atlantic Motor Labs Inc, an engineering company specializing in turbomachinery development, has received $250,000 in seed financing from Canadian venture capital firm Innovacorp. Based in Halifax, Nova Scotia, Atlantic Motor Labs said it will use the funding proceeds to demonstrate and commercialize its down-hole motor technology, which is targeted to oil and gas and mining operations. Founded in 2013 as a spin-out from research work done at Dalhousie University, the company is led by founder and president Braden Murphy. It has previously raised $350,000 from other investors.
25 March 2015•2 mins read
