Company Overview
Snapshot
Founded in January 2008 by Moran Price and Paul Price, IRP Systems is a private company with 51–200 employees. The company has raised $57 million across 4 funding rounds from 11 investors, with Entrée Capital participating as a lead investor in multiple rounds. In September 2023, IRP Systems expanded its operations in India, establishing mass production capabilities and a local supply chain.
Business overview
IRP Systems specializes in electric powertrain systems, focusing on making electric mobility technology affordable and accessible. The company leverages advanced control algorithms and powertrain design to deliver efficient and high-performance solutions. Its product portfolio, including the Evver line, caters to various e-mobility platforms, offering advanced functionality and performance while maintaining cost-effectiveness for the automotive market.
Strategic signal
In September 2023, IRP Systems significantly expanded its footprint in India by establishing fully compliant FAME2 and PLI mass-production capabilities, creating a local entity, and hiring automotive talent. This strategic move signals a strong commitment to localizing production and supply chains, enabling the company to better serve OEM and Tier 1 customers in a key growth market and accelerate the adoption of its e-powertrain systems.
Log in to access full profile ›Company Intelligence Q&A
- What was a significant recent development for IRP Systems in the Indian market?
- In September 2023, IRP Systems expanded its operations in India, establishing fully compliant FAME2 and PLI mass-production capabilities, creating a local entity, and hiring automotive talent to build a robust local supply chain.
- What strategic partnership did IRP Systems form in January 2022?
- In January 2022, IRP Systems signed a strategic partnership agreement with Bosch for the industrialization and serial manufacturing of IRP's personal mobility electric motor controllers, aimed at serving OEMs in Europe and worldwide.
- What was the outcome of the Series C funding round for IRP Systems?
- In April 2021, IRP Systems raised $31 million in a Series C funding round. Lead investors included Entrée Capital and Clal.
- What was the purpose of the Series B funding round in May 2020?
- In May 2020, IRP Systems secured $17 million in Series B funding, led by.
- What was the nature of the partnership between Sona Comstar and IRP Systems?
- In July 2021, Sona Comstar partnered with IRP Nexus Group Ltd to develop and manufacture a new powertrain for electric two and three-wheelers, with IRP licensing its technology for exclusive manufacturing in India.