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Alta Motors is announcing that it has closed two fundraising rounds, for a total of $27 million capital raised in exchanged for preferred stock in the San Francisco based electric motorcycle company.

The B & C series fundraising rounds were led by Grassy Creek Ventures, with the Series C round joined by Latin American venture capital fund Mountain Nazca, along with motorcycle legend Bob Fox – of Fox Racing fame.

Alta Motors says that the use of funds goes to the expanding the company’s existing manufacturing and R&D facility in Brisbane, CA; refining the company’s vehicle technology; and developing more lightweight vehicles.

From the funding, Alta Motors sees two more board members added to the company’s board of directors: Travis Bradford, Professor of Practice and Director of the Energy and Environment graduate program at Columbia University, and Hector Sepulveda, Managing Partner at Mountain Nazca.

Zero Motorcycle continues to raise money despite the wallowing economy, dropping another $2 million into its war chest during a $2.4 million round. The news of this funding comes shortly after we’ve gotten word that the Santa Cruz company plans on building a production facility for its electric motorcycles, and as of yesterday secured distribution in Mexico. While Zero hasn’t said what it plans to do with these newly acquired funds, we imagine the purpose will go something along the lines of the famous Daft Punk song “Harder, Better, Faster, Stronger”.