Electric motorcycle manufacturer Zero should have no problem pressing forward aggressively this year, with yesterday’s funding announcement.
Determined to avoid the funding problems many upstart vehicle manufacturers face, the California-based company has secured another $26 million in funding from its investment group Invus, LP.
The company gets $17 million of the cash up front, with another $9 million on the way in coming months. Zero CEO Gene Banman says the funds will be used to help the company ramp up its US production levels, as well as expanding their global sales quickly.
Not that the company has been plagued with slow growth – they’ve hired 70 employees in California and Europe since their founding in 2006, and export over 50 per cent of their machines outside the U.S.
Invus has been Zero’s primary investor since 2008; they’re a global private investment firm handling about $4 billion worth of capital.