Electric motorcycle maker Brammo has raised $28 million in a new funding round led by Polaris Industries, the company announced today.
The money will help Brammo solidify its position in the market against electric bike rivals such as Zero Motorcylces, and to reach new customers. Brammo also produces and distributes the Brammo Digital Drivetrain, and the Brammo Power battery back, which can be used by manufacturers in their vehicles.
“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 founder and chief executive officer Craig Bramscher, in a statement. Alpine Energy also participated in the round.
Polaris makes a wide variety of vehicles for outdoor recreation, such as golf carts, off-road vehicles and snowmobiles. Polaris also makes light-duty electric vehicles, such as the Gem, which is like golf cart designed for grounds teams.
Based in Ashland, Ore., Brammo is the maker of all-electric motorcycles, such as Encite, the Empulse, Engage and the Enertia (pictured).
Brammo previously raised $10 million Chrysalix Energy Venture Capital and Best Buy Venture Capital