Brammo gets $12 million

From the Sustainable Business Oregon site, great news for Brammo:

Brammo Inc., the Ashland-based maker of electric motorcycles, closed a nearly $12.5 million private investment Tuesday, the first chunk of what the company expects to be a $30 million venture round.

Investors in the round include existing funders Chrysalix, an energy-focused venture capital firm in Vancouver, B.C., and Best Buy Venture.

In addition, Alpine Inc., an oil and gas investment firm out of Oklahoma, signed on as an investor and Alpine’s David Kurtz joined the Brammo board.

Craig Bramscher, Brammo CEO, said an additional investor joined the round but that a nondisclosure agreement prevented him from naming the organization.

Brammo announced a partnership last week with electronics manufacturing giant Flextronics.

“It allows us to extend our supply-chain depth and reach all the continents,” Bramscher said. “We’re excited to do it.”

More info on Brammo expansion and money raising efforts on Hell for Leather, here“So what’s the significance of all this? This second round of financing should be seen as a significant milestone on Brammo’s road to becoming a major vehicle manufacturer. That they’re planning to expand globally with such a small amount of money is a good indicator of the company’s frugal ways which is, in turn, an extremely positive sign that they’ll be able to flourish under economic conditions that are crippling or destroying established motorcycle manufacturing competitors. Financial prudence, global sales and manufacturing and exciting products like the 100mph+ Brammo Empulse sounds like the perfect recipe for a successful American motorcycle company.”



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