Arcimoto revs its fundraising engine

Arcimoto hopes to raise money to roll out more pilot versions of its three-wheeled EV fleet.

Arcimoto hopes to raise money to roll out more pilot versions of its three-wheeled EV fleet.

Eugene’s three-wheeled electric vehicle mainstay continues to collect tidy investments.

Arcimoto Inc. has landed $250,000, of a potential $500,000 fundraising round, according to a Securities and Exchange Commission Form D the company filed Monday. The investments will come in the form of equity, according to the filing.

Arcimoto is raising money as it tests an initial pre-production “pilot fleet” of its three-wheeled electric vehicles.

“This will help us get to our next milestones,” said Mark Frohnmayer, the company’s founder and president. “We’re continuing to press forward to put this vehicle on the road, and this is one of the pieces that helps us do that.”

Arcimoto has picked up more than $1 million in investments over the years. In February, Drive Oregon gave the company a $50,000 grant triggered by an Arcimoto match.

Arcimoto listed its revenue on the Form D as between $0 and $1 million. Frohnmayer has become a leading voice in Oregon transportation issues since launching the company.

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.