Tesla Co-founder?s Wrightspeed Raises $5 Million Series A Round

Wrightspeed, a maker of fuel efficient, electric drive systems, has raised a $5 million Series A round from an unnamed private investor. According to the company's press release, co-founder and EVP of Infinera, David Welch, will also join the company's board. The company's founder and CEO is Ian Wright, one of the co-founders of Tesla. Although Wright was an important figure in Tesla's early days, he left long before the IPO to found Wrightspeed. Wrightspeed doesn't want to be the next electric automaker, instead, the company wants to build the best hybrid electric drive systems for high-performance cars and medium to large-sized trucks.

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