# Cascade Drives

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cascade-drives

- Industry: Industrial Machinery
- Headquarters: Stockholm, Sweden
- Website: www.cascadedrives.com
- Total disclosed funding: $1.6M
- Latest round: Series A (Apr 10, 2021)
- Investors on record: 1

## About

Based in Stockholm, Sweden, and founded in 2014 by Patrik Möller and Stig Lundbäck, Cascade Drives AB, a.k.a. Cascade Drives operates as a developer of electromechanical actuators and power steering systems for heavy-duty vehicles and industrial applications. In August 2025, Cascade Drives AB raised an undisclosed amount of venture funding from InnoEnergy.

The company’s flagship products include the TruEPS™ electric power steering system, designed for heavy-duty vehicles, and advanced linear actuators, which are capable of handling high loads and shock forces. The TruEPS™ system offers a compact, and accurate alternative to hydraulic power steering, while the linear actuators provide control for functions such as lifting, tilting, and side shifting in heavy-duty vehicles.

## Funding rounds

- Series A, Apr 10, 2021, $1.6M — InnoEnergy

## Investors

- InnoEnergy (https://capitalatlas.ai/funds/innoenergy) — Series A