Quantum Technologies Raises $12.5M in PIPE

Irvine-based Quantum Technologies, a developer of powertrain engineering, system integration, and packaged fuels systems for the automotive industry, has raised $12.5M in a private placement. The firm said it raised the financing from existing shareholders and several new insitutional investors. Investors were not disclosed. The financing was placed by Canaccord Adams. Quantum Technologies develops products for the hybrid and fuel cell vehicle market.