Land, a Cleveland, OH-based electric mobility and battery manufacturer, raised an undisclosed amount in Series A funding.
The round, which brought the total amount to USD7M, was led by Ancora.
Founded in 2020 by Scott Colosimo, Land provides a transitional eMoto ecosystem with a portable power platform (CORE). In 2020, the company debuted its flagship e-Moto, The District, which combines an electric bike and an electric motorcycle into one two-wheel vehicle. Featuring three speed settings—e-Bike (up to 27 mph), e-Moped (up to 40 mph) and e-Motorcycle (70+ mph)—The District is a versatile option that meets the needs of a range of riders, from beginners to off-road enthusiasts and experienced motorcyclists. The e-Moto is powered by a swappable electric battery pack (CORE) that has a range of 120 miles per battery. Its products are manufactured in Cleveland.
Over the summer, the company leveraged some funds to renovate its 30,000-square-foot manufacturing facility, which includes a modern assembly line and larger design and development center. Land has also expanded its team and doubled the size of its production staff to be able to ramp up production. Among the new company hires are Tim Leedom, chief revenue officer, and Chris Davis, head of production.
Land is now launching a $15m convertible note to continue to scale e-Moto production and sales in the U.S. and expand internationally within the next year.
FInSMEs
11/09/2023