EV Pioneer Alta Motors Closes $27 Million of Preferred Stock in Latest Financing Round

Alta Motors recently announced it has closed a total of $27 million of preferred stock in its latest round of financing led by Grassy Creek Ventures, who is joined by Mountain Nazca and motorcycle industry legend, Bob Fox, among others.

“Our sights are set on becoming the de facto platform for the new frontier of lightweight electric transportation,” said Marc Fenigstein, CEO and Co-Founder of Alta Motors. (PRNewsfoto/Alta Motors)

Alta Motors recently announced it has closed a total of $27 million of preferred stock in its latest round of financing led by Grassy Creek Ventures, who is joined by Mountain Nazca and motorcycle industry legend, Bob Fox, among others.

In addition to supporting the expansion of its existing manufacturing and R&D facility in Brisbane, CA, the company says the funds will enable it to refine its lightweight vehicle technology and solidify its leadership in the global lightweight vehicle market (LWV). New board members include 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.

“Alta has taken a Trojan horse approach to this market since its inception, delivering a robust and exciting motorcycle into the performance off-road segment. But underneath, Alta has quietly achieved amazing success in advanced core vehicle technologies including the highest energy density of any commercialized pack in transportation, even Tesla’s,” said Bradford. “It now holds a portfolio of patents for its proprietary battery pack, drivetrain, and chassis technologies. The fundamental advantage of this IP is that it gives Alta both performance/cost and performance/weight ratios that put it years ahead of the rest of the industry, and all of this technology is now commercialized and vetted in the most demanding environment a vehicle can face. Pretty impressive stuff.”

After establishing itself in the electric motorcycle sector, Alta is now continuing to push the industry forward by offering the highest energy density in the lightweight EV mobility market today. Currently, Alta’s commercialized battery pack is capable of 185Wh/kg and the company plans to achieve 225Wh/kg in commercial production by 2020. Its technology has transformative implications for the entirety of the $125B high-growth LWV Market, which includes mopeds, scooters, motorcycles, tuk-tuks, side-by-sides, urban autonomous vehicles, and delivery drones.

“Not since Soichiro Honda took on the American and British marques in the 60s and 70s has the industry seen this level of disruption, and Alta is leading that charge,” said Bob Fox, Founder of FOX Racing Shox Inc. “In just a few short years, it’s accomplished what has taken others decades to execute on, from breaking ground on a high-tech, vertically-integrated manufacturing facility to the launch and serial production of its groundbreaking Redshift electric vehicle platform.”

“After demonstrating our drivetrain and battery solutions in demanding off-road conditions, we now have an electric mobility platform that offers broad applicability to other product classes, from urban transport to utility vehicles,” said Marc Fenigstein, CEO and Co-Founder of Alta Motors. “As traditional automotive loses its transportation crown, this is a pivotal moment for us and for the industry; we are breaking barriers in storage, powertrain and vehicle design. With the support of our incredible set of investors and our world-class team, our sights are set on becoming the de facto platform for the new frontier of lightweight electric transportation.”

You May Also Like

Turn 14 Distribution Adds Gaerne to the Line Card

Gaerne is an Italian motorcycle footwear brand.

Turn 14 Distribution, Gaerne boots

Turn 14 Distribution has announced the addition of Gaerne, a motorcycle footwear company, to its extensive line card.

“We are thrilled to welcome Gaerne to our product lineup. The company’s reputation for producing top-tier motorcycle footwear aligns with our mission to provide our customers with the best products the industry has to offer. Gaerne’s dedication to innovation, quality and performance makes them a perfect fit for our portfolio,” said James Kramer, divisional purchasing manager, Turn 14 Distribution.

Royal Enfield Introduces Global Rentals and Tours

The rental program extends to 60-plus destinations.

Segway Powersports and Octane Shift Gears With Strategic Financing Partnership

Effective, April 1, 2024, prime and non-prime consumers are eligible for financing on Segway’s entire range.

Octane, Segway Powersports
2024 Harley-Davidson Homecoming Festival Kicks Off in 100 Days

Tickets are on sale for Veterans Park headliners Red Hot Chili Peppers, Jelly Roll and HARDY.

Nitro Circus, Harley-Davidson Homecoming

Other Posts

Zero Motorcycles Launches Tesla Tap Mini: the Key to Expanded Charging Options

The accessory expands rider access to more than 40,000 additional charging destinations across the country.

Tesla Tap Mini
MIC Statistical Annual Now Available

Get ahead of the motorcycle sales season.

Motorcycle Industry Council
REV’IT! TAILORTECH Design Challenge Offers U.S. Riders Chance to Win Custom Race Suit

Submissions will be accepted through April 21, 2024.

racing suit
Vespa World Days 2024 Set to Run April 18-21

The National Vespa Clubs from 55 countries come together, uniting thousands of Vespas from five continents.

Vespa World Days 2024