Brammo closed on the first $13 million of a planned $45 million funding round.
"This $13 million round of financing puts Brammo on strong footing to continue to execute, deliver and expand distribution of our electric motorcycles to our customer pipeline," said Craig Bramscher, CEO of Brammo, in a statement. "This funding will ensure we continue to accelerate production to capitalize on the growing demand for electric motorcycles."
GE Capital announced earlier in the week that it would provide inventory financing to Brammo as it expands its network of dealerships across the country. Backing from GE Capital's Commercial Distribution Finance Business provides credibility to Brammo as a young company in a still-new market for electric vehicles.
Read more at Sustainable Business Oregon.