CPPIB led a $225m funding round in Turntide Technologies.

Canada Pension Plan Investment Board, a global investment management organization, led a $225m funding round in Turntide Technologies, a developer of an electric motor system. Additional investors include Monashee Investment Management, JLL Spark Breakthrough, Captain Planet and Suvretta Capital Management. The company will use the financing to support the development of new cloud-based technology due to be released this year for implementation throughout built environments and electric vehicles. The technology will integrate its Smart Motor System with intelligent automation and insights to improve customer experience, employee satisfaction and reduce maintenance costs across commercial and industrial markets. The proceeds also further the growth and development of its transport line of business for commercial and industrial electric vehicles, launched earlier this month.