Alva Industries raises $11 million Series A to scale motor production and product portfolio

Evidence notes

• Alva said the Series A would fund expansion of production capacity from roughly 1,000 motors per year to 15,000 in 2024 and support a broader motor product portfolio.
• The company positioned the round around becoming a larger supplier of electric motors for industrial drones, with additional relevance to robotics, optics, power generation, and maritime propulsion.
• Named investors included NRP Zero, Statkraft Ventures, Drone Fund, Jakob Hatteland, and existing investors and employees.