Arcimoto landed $1M in equity fundraising; Jaguar looks to innovate tech-friendly experience at Portland site.
BY JACOB PALMER | DIGITAL NEWS EDITOR
A filing with the SEC showed Eugene-based Arcimoto raised $1 million in equity in the first quarter.
From the Portland Business Journal:
President Mark Frohnmayer signed the form. Arcimoto listed directors Terry Becker and Jefferson Curl on the filing.
Arcimoto aims to make three-wheeled vehicles designed for short-term trips. The vehicles feature “aerodynamic tandem seating, a lightweight footprint, and three wheels for reduced road drag,” according to the company. Frohnmayer said last fall the company’s nearly ready to unveil its vehicles.
In Portland, tech experts are working at the new Jaguar Land Rover lab in the Pearl District on innovations that marry tech and car travel.
Most automakers have their tech outposts in Silicon Valley. JLR came to Portland in large part because of ongoing work with Intel, which has been investing for years in automotive technologies – one of the chipmaker’s many efforts to diversify beyond the stagnant PC market. Three years ago, Intel established a $100 million investment fund to pursue automotive technologies. It has its own research efforts around the world, from Hillsboro to Germany, seeking new ways to apply Intel’s computing power. Working with Ford, Intel developed cameras that look inside a vehicle. Facial recognition technology might identify a driver, or sound an alert if the cameras catch a driver’s attention wandering away from the road.
“These technologies and capabilities will enter the vehicle somewhat incrementally,” said Elliot Garbus, an Intel vice president in Arizona who runs the chipmaker’s automotive group. And as those new concepts arrive, Garbus said drivers sometimes react in unexpected ways.