Electric motorcycle manufacturer Alta Motors has landed a huge chunk of cash in two recent fundraising rounds
The fundraising saw Alta selling $27 million of preferred stock to fund future endeavours—specifically, boosting production and distribution for the Redshift electric motorcycle.
This deal might prove to be one of the most significant in the history of electric motorcycling. In an age when companies like Victory and Mission are folding their previously high-profile battery bike development programs, Alta (previously known as BRD) has focused on developing competent machines, rather than building hype or releasing flawed products. And in recent months, that strategy has paid off. Alta’s bikes have proven their ability on the racetrack, meeting the company’s goals of performance equal to gas-powered counterparts.
The problem, as usual with startups, is getting bikes to customers at a price they can afford, and that’s where this fundraising deal comes in. Alta should be able to ramp up production of its supermoto and motocross models now, which in turn should allow the company to sign on more dealers and gain visibility. For now, there’s nothing on the market to compete with its machines.