Brammo Inc., an Ashland, Oregondeveloper of electric vehicle technology and manufacturer of two-wheel electric vehicles, has closed a $28m Series B funding.
The round was led by Polaris Industries, with participation from existing shareholder Alpine Energy, and new investor NorthPort Investments LLC.
The company intends to use the funding to accelerate the company’s development plans.
Led by Founder and CEO Craig Bramscher, Brammo has developed innovative battery and powertrain technology, which is integral to its expanding product line, including the Enertia – urban commuter, Empulse – sports motorcycle, and Engage and Encite – supermoto and off road motorcycles.
It also has potential in both the powersports and the low speed vehicles markets.
The strategic partnership with Polaris is designed to enhance the company’s leadership in the 2 wheeled EV space, while broadening its reach in terms of product development, geographic reach and growth while improving quality, performance, and customer service.
Brammo’s manufacturing partner is Flextronics.
The company has vehicle distribution and marketing operations in North America, Europe and Asia.
FinSMEs
26/10/2011