# Avid Technology secures £7M investment for electric vehicle parts production

Avid Technology has secured £7 million in investment led by Maven Capital Partners and the North East Development Capital Fund to boost production of electric motors, power electronics, and battery systems for heavy-duty electric and hybrid vehicles.

- Type: Investment
- Announced: 2019-03-06
- Where: Northumberland, United Kingdom
- Value: $9.20M (7.00M GBP)
- Status: announced
- Products: electric motors, power electronics, battery systems, powertrain components
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [AVID Technology](https://endata.com/companies/3371.md)
- [Maven Capital Partners](https://endata.com/companies/37812.md) (investor)
- [North East Development Capital Fund](https://endata.com/companies/37813.md) (investor)
- [NVM Private Equity](https://endata.com/companies/37814.md) (investor)
- [Downing Ventures](https://endata.com/companies/37815.md) (investor)

## Sources

- [chroniclelive.co.uk](https://www.chroniclelive.co.uk/business/business-news/northumberland-firm-avid-technology-secures-15930049), 2019-03-06: "AVID is experiencing unprecedented demand for its products and services and we are looking forward to delivering on this growth potential with the support of our new and existing investors."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.