Polaris Industries has helped electric motorcycle manufacturer Brammo to close its series B round at $28m.
Sporting activity and electric vehicle manufacturer Polaris Industries made an investment of an undisclosed size in electric motorcycle manufacturer Brammo on Wednesday, bringing Brammo’s series B round to $28m. Other participants in the round were investment firm Alpine Energy and private equity firm Northport Investments.
Brammo previously raised $12.5m in financing from corporate venturing unit Best Buy Ventures and venture capital firm Chrysalix in September last year.
Founded in 2002, Brammo has designed, developed and manufactured a range of electric-powered motorcycles. As well as receiving a stake in the company, Polaris will also get access to Brammo’s proprietary ‘powertrain’ battery pack and electric vehicle management technology.
Scott Wine, chief executive of Polaris, said: "Our companies share a passion for performance, and I look forward to exploiting the numerous opportunities created by pairing Brammo’s industry-leading electric powertrain technology with Polaris’s vast array of market-leading powersports products."
