All Electric Bike Makers, Zero Motorcycles, Raise Another $2.4 Million
A Santa Cruz-based electric motorcycle manufacturer, Zero Motorcycles, raised another $2.4 million in private equity, according to a new SEC filing.
Earlier this month, California’s Scotts Valley Police Department started using the company’s Zero DS bikes in urban patrols. According to a company press statement, its Zero DS has a range of up to 50 miles (80 km) and is highway legal, safe for off-road bike paths, and drives quietly due to its all-electric drivetrain, making it potentially advantageous for urban law enforcement.
In late 2010, Zero Motorcycles expanded sales of its all-electric bikes to Australia. The company is selling its products in 32 countries today, including the U.S., Switzerland, Germany, Italy, the U.K. and Canada.
Last summer, Zero Motorcycles attained a U.S. patent for a battery interconnect system that reduces the amount energy wasted in the form of heat around the power packs that go into their bikes.
In 2008, Zero Motorcycles raised about $8 million, and in 2010 the company raised another $7.1 million in what appear to be several expansion rounds, bringing the company’s total equity raised to about $17.5 million today.
TechCrunch has requested details about how Zero Motorcycles will apply its latest financing round of $2.4 million. The company did not offer an immediate reply.
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