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Magnovate Technologies
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Short description

Developer of a magnetic levitation-based transit system

Founded in 2012
Founded in

Company type Private Public ()
Company type

Industry Group transportation & logistics

Sector rail

TRL Range 4-6
TRL 1 Basic research
TRL 2 Technology formulation
TRL 3 Applied research
TRL 4 Small scale prototype
TRL 5 Large scale prototype
TRL 6 Prototype system
TRL 7 Demonstration system
TRL 8 First of a kind commercial system
TRL 9 Full commercial application
TRL Range

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Headquarters Canada Edmonton, Canada
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Updated by Cleantech Group on 08/10/2021

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Date Company
Partnerships
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Date Partner Type
12/21/2012
Los Angeles Cleantech Incubator (LACI) Los Angeles Cleantech Incubator (LACI)
Magnovate Technologies is one of five companies recently added to LACI's portfolio.
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Confirmed by Los Angeles Cleantech Incubator (LACI)
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IPO INFORMATION

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Description

Date Investors Type Amount
08/31/2013 Cross Point Venture Partners Cross Point Venture Partners (1)
Post-money valuation of
As of August 2013, Magnovate Technologies had raised $2 million from Cross Point Venture Partners.
Seed $2,000,000
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Products
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Product image Name Product status Revenue model Cost metrics

Pods

Line of pods to be used as travel options in a multi-modal Magline network. Pods differ based on needs of passengers and freight.

Product Development Products - Retail
$/kW (current)
$/kW (projected)
$/kWh (current)
$/kWh (projected)
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