Zero Motorcycles has raised an additional $5.5 million in its Series A funding, bringing it’s total war chest to just over $10.5 million in funding to date. The Invus Groups seems to have lead, if not solely financed, the Series A round, and retains two seats on Zero’s Board of Directors. The funding is reported to “help grow the company”, which in these financial climates could mean anything from paying looming costs to amounting cash for harder days ahead. Whatever the reason, it’s a positive sign for Zero Motorcycles, and an early high-point to their 2010 accomplishments.
It’s not clear what Zero is going to do with its funding, but considering how aggressively they’ve moved into markets outside of the United States, we imagine the funds will go to further those efforts, to continue to build the product line-up, and to keep the lights on as the motorcycle industry continues to reel from it’s nearly year-long downward spiral.
Considering the challenging fund-raising climate that venture capital market is in, and the lack of affinity that investors have for the motorcycle sector, Zero’s ability to raise over $5 million is a huge accomplishment for Santa Cruz based company. It also could be a beacon of light for other firms who are currently looking for funding, and a sign that the markets are warming up to motorcycle clean-tech.
Source: SEC; Photo: © 2008 Asphalt & Rubber