Deals

Brammo raises $10M for electric motorcycles

It may not sound as impressive as Fisker Automotive’s whopping $65 million haul, but Brammo‘s $10 million first round, led by Chrysalix Energy Venture Capital, Best Buy Venture Capital (yes, you read that correctly) and others, is nothing to sneeze at. The Ashland, Ore.-based developer of the Enertia, a lightweight GPS-equipped, web-enabled electric bike that gets 35-45 miles per charge, says that the proceeds will be enough to allow it to go into production and deliver its first full product line, according to PEHub.

The Enertia can reach a top speed of over 50 miles per hour and can accelerate from 0 to 40 mph in under 6 seconds. It has a recharge time of roughly 3 hours, weighs 280 pounds and uses valence lithium iron phosphate batteries (like those made by battery developer PowerGenix).

The first set of bikes will cost around $15,000 each when they become available later this year, with subsequent iterations to be priced at a slightly more affordable $12,000. About 100,000 people have already expressed interest in purchasing the bike through Brammo’s website.

The company, which claims to have intentionally remained “capital frugal,” expects to raise its next round next year. CEO Craig Bramscher wouldn’t say whether Best Buy’s investment meant we could expect to see Enertias appearing at a local Best Buy store, perhaps as part of the Geek Squad fleet, as Primack suggested. Brammo may expand its first round to $15 million.