In a written statement the company said it will use the money to accelerate its development plans.
Polaris Industries led the round, which included contributions from Alpine Energy and NorthPort Investments.
The final tranche of the Series B was led by Polaris Industries and included further contributions from existing shareholder Alpine Energy, while adding NorthPort Investments LLC.
Brammo said partnering with Polaris, a recognized leader in the power sports industry, will help broaden the range of markets for Brammo Electric Vehicle (EV) drivetrain technology and expertise.
“We are excited to add Polaris Industries as a valued strategic partner,” said Craig Bramscher, Brammo’s founder and CEO. “Brammo and its partners are combining forces to gain dominance in the EV powersports market.”
“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,” he continued. “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,” he added.
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