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Electric motorcycle company Zero is closing a new funding round of just over $120 million, according to a new report. Deposit With the US Securities and Exchange Commission.
The filing shows that Zero has sold about $100 million of the equity round so far from two undisclosed investors. The company confirmed to TechCrunch that it is raising money and that it will be used to expand and fund new models, but declined to provide further details.
It is Zero’s first funding round since the company He grew up $107 million in 2022 from Polaris and India’s Hero MotoCorp. The company said at the time that it had “all the necessary resources to continue pushing the boundaries of electric two-wheelers and electric motors.” The company – which is almost 20 years old – usually updates its models every year, despite rumors of success. On a small bike.
The zero increase comes amid some rough waters for electric motorcycle companies. One of the largest companies, the Italian company Energica, filed for bankruptcy Earlier this month After reducing its workforce by 70%. E-car design startup Cake filed for bankruptcy in February, despite emerging with a new owner. Smaller players like Fuel and Sondor They also went out of business.
Meanwhile, Harley-Davidson’s electric motorcycle maker Livewire continues to lose money on its own bikes. Company I mentioned On Thursday, it lost $22.7 million in the third quarter and sold just 99 electric motorcycles. Livewire continues to generate more revenue from sales of children’s electric balance bikes. Those brought in $3.2 million in the third quarter versus just $1.2 million from motorcycles.
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