Qnovo Incorporated announced that it has received $24.000002 million in funding from BorgWarner Inc., OGCI Climate Investments LLP, Constellation Technology Ventures, USVP Management Company, LLC, RockPort Capital Partners
January 10, 2022
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On January 11, 2022, Qnovo Incorporated closed the transaction. The company received $24,000,000 in series C round of funding led by new investor BorgWarner Inc. The transaction included participation from new investor, OGCI Climate Investments LLP, returning investors Constellation Technology Ventures, USVP Management Company, LLC and RockPort Capital Partners.
BorgWarner Inc. specializes in the design, manufacturing, and marketing of automotive equipment. Net sales break down by family of products as follows:
- air management products (54.6%): turbochargers, timing systems, emissions systems, thermal systems, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery heaters and battery charging products;
- e-propulsion & drivetrain products (30.3%): rotating electrical components, power electronics, control modules, software, friction and mechanical products for automatic transmissions and torque management products;
- gasoline and diesel fuel injection components and systems (15.1%): pumps, injectors, fuel rail assemblies, and complete systems.
At the end of 2023, the group had 79 production and assembly sites worldwide.
Net sales are distributed geographically as follows: the United States (16.4%), Germany (11.8%), Poland (7.9%), Hungary (6.4%), Europe (9.8%), China (21.1%), Mexico (12.4%), South Korea (8.2%) and other (6%).
Qnovo Incorporated announced that it has received $24.000002 million in funding from BorgWarner Inc., OGCI Climate Investments LLP, Constellation Technology Ventures, USVP Management Company, LLC, RockPort Capital Partners
BORGWARNER INC. 
