TechnoSpin, a New York-based company creating small wind turbine designs for both consumer and commercial use, has raised $8 million in its first venture funding.
While the company is gearing up to make a turbine for sale mainly in remote and rural areas, it is also working on a gear mechanism that may be useful in applications beyond turbines.
The $8 million funding was led by 21Ventures. The company itself also has facilities in Israel, Eastern Europe and the Middle East.
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