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Thursday, Apr 25, 2024

Engine Technology Firm Receives New Venture Funding

Transonic Combustion, Inc. received a second round of venture funding to continue its research of developing more efficient vehicle engines. The amount of the funding from Venrock, Rustic Canyon and Khosla Ventures was not disclosed. The three venture capital venture firms also participated in the first round of funding for the Camarillo-based company. The second round of funding followed by nine months the first round of financing putting the company 15 months ahead of the initial business plan schedule. “We brought in the second round on a highly accelerated basis to allow us to proceed rapidly from our current single cylinder test engines to automotive size four cylinder engines in preparation for presenting out technology to the automotive industry in early 2008,” said Transonic Combustion President Mike Cheiky.

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