# IRP Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/irp-systems

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Israel
- Website: www.irpsystems.com
- Total disclosed funding: $51M
- Latest round: Series C (Apr 28, 2021)
- Investors on record: 12

## About

IRP Systems focuses on providing innovative software-defined electric powertrain solutions for electric vehicles, enhancing performance, safety, and efficiency across multiple markets.Founded in 2008, IRP Systems is based in Israel and specializes in electric vehicle technology. The company has completed 3 deals, with their most recent funding round occurring on April 28, 2021. In this Series C funding round, IRP Systems raised USD 31.000 mn from investors including Altshuler Shaham, Clal Insurance Enterprise Holdings, and Samsung Venture Investment. The founder and CEO, Moran Price, has a background in developing advanced technologies for the automotive sector, although further details about previous companies are not available.IRP Systems specializes in the development and delivery of software-defined electric powertrain solutions designed for electric vehicles (EVs). Their core product offerings include the EVVER Force and EVVER Dynamic platforms, which provide advanced control algorithms for optimized performance, safety, and efficiency in electric vehicles. These systems aim to address the growing demand for clean and affordable mobility solutions across various geographic markets, including Europe, Asia, and North America. The company targets original equipment manufacturers (OEMs) and other automotive partners, enabling them to integrate IRP's technology into their electric vehicle platforms for improved driving experiences and reduced carbon emissions. Each vehicle electrified by IRP Systems is projected to save 4.6 metric tons of CO2 annually.IRP Systems generates revenue through direct partnerships with automotive OEMs and other stakeholders in the electric vehicle market. Their transaction structure primarily involves business-to-business (B2B) agreements, allowing OEMs to license IRP's advanced powertrain technologies for integration into their vehicle models. This collaboration includes comprehensive support for their flagship products, such as the EVVER Force and EVVER Dynamic systems, which are tailored to meet specific performance and safety requirements. Pricing plans are structured based on the complexity and customization of the powertrain solutions, ensuring that clients receive tailored support that aligns with their unique market needs and technological demands.In April 2021, IRP Systems raised USD 31.000 mn in Series C funding aimed at enhancing the development of its electric vehicle systems and reducing the path to mass production. The funding will facilitate expanded research and development, operations, and customer support while enabling a push for global sales and marketing initiatives. The company plans to launch new products designed for electric vehicles and is targeting expansion into markets across Europe, Asia, and North America.

## Funding rounds

- Series C, Apr 28, 2021, $31M — Clal Insurance Enterprise Holdings, Samsung Venture Investment, Cendana Capital, Altshuler Shaham, Entree Capital, JAL Ventures, Union Tech Ventures, Fosun RZ Capital, Tal Capital Group LLC, Champion Motors, Shlomo Real Estate, Carasso Motors Ltd.
- Series B, May 12, 2020, $17M — Cendana Capital, Entree Capital, JAL Ventures, Union Tech Ventures, Fosun RZ Capital, Tal Capital Group LLC, Champion Motors
- Seed, Jan 1, 2018, $3M — Entree Capital

## Investors

- Entree Capital (https://capitalatlas.ai/funds/entree-capital) — Seed, Series B, Series C
- Cendana Capital (https://capitalatlas.ai/funds/cendana-capital) — Series B, Series C
- JAL Ventures (https://capitalatlas.ai/funds/jal-ventures) — Series B, Series C
- Union Tech Ventures (https://capitalatlas.ai/funds/union-tech-ventures) — Series B, Series C
- Fosun RZ Capital (https://capitalatlas.ai/funds/fosun-rz-capital) — Series B, Series C
- Tal Capital Group LLC — Series B, Series C
- Champion Motors — Series B, Series C
- Clal Insurance Enterprise Holdings — Series C
- Samsung Venture Investment (https://capitalatlas.ai/funds/samsung-venture-investment) — Series C
- Altshuler Shaham — Series C
- Shlomo Real Estate — Series C
- Carasso Motors Ltd. — Series C