Brammo announced today that it raised $28 million during its most recent round of Series B funding. The financial haul was led by motorcycle manufacturer Polaris, as well as companies like Alpine Energy.
"We are excited to add Polaris Industries as a valued strategic partner. Brammo and its partners are combining forces to gain dominance in the EV powersports market," said Brammo, Inc. Founder and CEO Craig Bramscher. "We now have the ability to maintain our high standards of quality while we innovate and commercialize at speed, and this enables us to better serve our customers and build a sustainable advantage. Polaris is the clear leader in powersports and our manufacturing partner, Flextronics, is a global leader in electronics manufacturing. Our products are the synthesis of powersports and electronics. Polaris and Flextronics present the best possible partners to help Brammo achieve the scale and prolific product development plans we have for the coming years."
Polaris' investment into Brammo will give them access to Brammo's proprietary electric vehicle powertrain technology. Polaris will also get some pretty nice exposure in the constantly growing electric motorcycle market.
"We are excited to advance our electric vehicle capability by establishing Polaris as a business partner and part owner of Brammo, one of the most innovative and aggressive companies we have found in the electric motorcycle space," said Scott Wine, Polaris CEO. "Our companies share a passion for performance, and we look forward to exploiting the numerous opportunities created by pairing Brammo's industry-leading electric powertrain technology with Polaris' vast array of market-leading powersports products. This is a small, but important, investment for Polaris in an electric vehicle market that we feel is poised for significant growth."