About TruTech
TruTech is a company based in Fridley (United States) founded in 2010 by Ted Paskvan and Tom Frick was acquired by Iron Path Capital in September 2023.. TruTech has raised $301.05 thousand across 1 funding round from investors including Iron Path Capital. TruTech offers products and services including DC Brushless Servo Motors and Complete System Solutions. TruTech operates in a competitive market with competitors including Ziehl-Abegg, Chara, TSUYO, Linear Labs and Revoh, among others.
- Headquarter Fridley, United States
- Founders Ted Paskvan, Tom Frick
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Sectors
Transportation, Automotive & Logistics
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Phone
*********
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Website
*********
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Social
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- Legal Name Trutech Specialty Motors, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$301.05 K (USD)
in 1 rounds
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Latest Funding Round
$301.05 K (USD), Seed
May 31, 2012
- Investors
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Employee Count
Employee Count
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Acquired by
Iron Path Capital
(Sep 05, 2023)
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Products & Services of TruTech
TruTech offers a comprehensive portfolio of products and services, including DC Brushless Servo Motors and Complete System Solutions. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Customized motors for industrial and automation applications.
Provides motor systems with feedback and drives for optimized performance.
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Funding Insights of TruTech
TruTech has successfully raised a total of $301.05K through 1 strategic funding round. The most recent funding activity was a Seed round of $301.05 thousand completed in May 2012. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $301,050
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First Round
First Round
(31 May 2012)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| May, 2012 | Amount | Seed - TruTech | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in TruTech
TruTech has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Iron Path Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by TruTech
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - TruTech
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Trutech Comparisons
Competitors of TruTech
TruTech operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Ziehl-Abegg, Chara, TSUYO, Linear Labs and Revoh, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Automotive motors are manufactured by Ziehl-Abegg in Germany.
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| domain | founded_year | HQ Location |
Manufacturer of motors for electric vehicles
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| domain | founded_year | HQ Location |
BDLC motors and controllers for electric three-wheelers are developed.
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| domain | founded_year | HQ Location |
Developer of electric motors for EVs
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| domain | founded_year | HQ Location |
End-to-end hardware and software solutions for electric vehicles are provided.
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| domain | founded_year | HQ Location |
Electric motors for diverse electric vehicles are developed.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about TruTech
When was TruTech founded?
TruTech was founded in 2010 and raised its 1st funding round 2 years after it was founded.
Where is TruTech located?
TruTech is headquartered in Fridley, United States. It is registered at Fridley, Minnesota, United States.
Who is the current CEO of TruTech?
Ted Paskvan is the current CEO of TruTech. They have also founded this company.
Is TruTech a funded company?
TruTech is a funded company, having raised a total of $301.05K across 1 funding round to date. The company's 1st funding round was a Seed of $301.05K, raised on May 31, 2012.
What does TruTech do?
TruTech was established in 2010 in Fridley, United States, with Ted Paskvan as co-founder and CEO, alongside Tom Frick as co-founder. DC Brushless servo motors are produced by the company within the manufacturing sector. Operations are centered on precision motor assembly and distribution, accessible via the domain trutechmotors.com. The focus remains on serving industrial applications across various geographies from this U.S. base.
Who are the top competitors of TruTech?
TruTech's top competitors include TSUYO, Zepco Technologies and Linear Labs.
What products or services does TruTech offer?
TruTech offers DC Brushless Servo Motors and Complete System Solutions.
Who are TruTech's investors?
TruTech has 1 investor. Key investors include Iron Path Capital.