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Alta Motors Receives $27 Million In Funding Round
Jun 14, 2017 | TransWorld Motocross
Step forward for electric motorcycle brand
"Alta Motors, the leader in global lightweight electric vehicles, announced it has closed a total of $27 million of preferred stock in its latest rounds of financing," reported TransWorld Motocross.
Alta Motors (formerly "BRD") was co-founded by CEO Marc Fenigstein '01 Th'04 — with Jeff Sand, Derek Dorresteyn and MEM alum David Drennan Th'09. The investors were attracted to its "expanding suite of transportation technologies as the company breaks new energy density thresholds." ...
..."Founded in stealth in 2010, Alta has set its sights on tapping into one of the largest and fastest growing global markets: lightweight transportation. Over the last five years, it has developed a holistic mobility platform capable of servicing multiple sectors within the fast-growing transportation economy. It now leads the industry with a complete portfolio of proprietary battery and drivetrain components, an existing fleet of lightweight vehicles manufactured at its world-class Brisbane facility and a full customer backlog. ...
... "'After demonstrating our drivetrain and battery solutions in demanding off-road conditions, we now have an electric mobility platform that offers broad applicability to other product classes, from urban transport to utility vehicles,' said Marc Fenigstein, CEO and Co-Founder of Alta Motors. 'As traditional automotive loses its transportation crown, this is a pivotal moment for us and for the industry; we are breaking barriers in storage, powertrain and vehicle design. With the support of our incredible set of investors and our world-class team, our sights are set on becoming the de facto platform for the new frontier of lightweight electric transportation.'"
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