ASHLAND, OR – With Files from Motor Sports Newswire – Brammo Inc., a leading developer of electric vehicle technology and manufacturer of two-wheel electric vehicles, announced last week it has closed the first $13 million tranche of a $45 million Series C funding round designed to accelerate the company’s development plans.
The first tranche of the financing was led by Polaris Industries and included contributions from other undisclosed investors. Polaris, a recognized leader in the powersports industry, is a strategic partner for Brammo, bringing both investment and opportunities to integrate Brammo Electric Vehicle (EV) drivetrain technology into multiple powersports platforms.
“This $13 million round of financing puts Brammo on strong footing to continue to execute, deliver and expand distribution of our electric motorcycles to our customer pipeline,” said Craig Bramscher, CEO of Brammo. “This funding will ensure we continue to accelerate production to capitalize on the growing demand for electric motorcycles.”
Brammo, Inc., is a leading electric vehicle technology company headquartered in North America. Brammo designs and develops electric vehicles including the Encite, Enertia, Empulse and Engage motorcycles. Brammo is the current TTXGP eGrandPrix champion of North America. Brammo is an OEM supplier of its innovative Brammo Digital Drivetrain systems including the Brammo Power™ battery pack and Brammo Power vehicle management system. Brammo has vehicle distribution and marketing operations in North America, Europe and Asia.