Brammo hauls in $12 million investment
By Christina Williams, Sustainable Business Oregon
Sustainable Business Oregon
The Brammo Empulse
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."
"With Empulse, it was clear that we'd hit an inflection point," Bramscher said.
The additional funding, paired with the Flextronics partnership, will allow Brammo to continue to expand.
Brammo has 40 full-time employees in Ashland, its North American headquarters. The company has several open positions and is looking for a European headquarters and has plans for an Asian headquarters in China.
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