Fallbrook Technologies Raises $16M Series C

San Diego-based Fallbrook Technologies has raised $16M in a Series C funding, the company is reporting. Fallbrook said that the first, $9.3M close of the funding closed in February. Fallbrook is developing a continuous variable planetary transmission that it is initially applying to bicycles, but which it also is targeting at light electrical vehicles, automobiles, agriculutural equipment, and utility class wind turbines. Investors were not disclosed, and the company said that its pre-money valuation was $120M. More information »