Business & Tech

$1M Raised By Crystal City Electric Vehicle Tech Startup: Report

Green technology company Torev Motors recently closed a pre-seed funding round, raising $650,000 from a group of venture capital firms.

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Green technology company Torev Motors recently closed a pre-seed funding round, raising $650,000 from a group of venture capital firms.
Green technology company Torev Motors recently closed a pre-seed funding round, raising $650,000 from a group of venture capital firms. (Shutterstock)

ARLINGTON, VA — A Crystal City startup aimed at improving the motors of electric-powered vehicles raised $1 million in funding, according to news reports.

Starting out, Torev Motors, whose corporate offices are located at 1550 Crystal Drive, received $350,000 from friends and family members, according to the Washington Business Journal.

Recently, the company closed a pre-seed funding round worth $650,000, according to WBJ's reporting. Top contributors included BetterWay Ventures, EcoShepere Ventures, and Climate Avengers. Locally, Alexandria's Intbox Ventures was also one of the companies throwing venture capital behind the green-technology startup.

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