Land Moto, a Cleveland-based startup building electric motorcycles, announced this week a $3 million fundraise. This comes on top of its $7 million raise last summer. The investment was led by special purpose venture vehicle, Nunc Coepi Ventures.
Land Moto plans to invest the $3 million into more battery development. While the Land-designed "Core" batteries power its primary product, an electric motorbike called The District, Land aims to have the batteries be multifunctional.
On top of giving the bike 80-100 miles of range, they're also powerful enough to charge your phone for a couple of months or run the coffee maker during a power outage. It newest devices adds a 400W, three-prong outlet and four USB-C plugs to the side of the bike. Perfect for camping, charging up after a ride, or other times you're in short access to a power outlet.
“Being able to make electric batteries in-house is a pivotal moment for the team. It allows us to ramp up battery manufacturing in 2024 and continue to innovate and improve the intuitive design of the battery,” said Evan Painter, Land’s head of design, in a press release.
The battery is designed to easily slot into the bike with minimal modification, with the potential of powering future vehicles down the road.