Brammo, a US-based maker of electric motorcycles backed by Best Buy, has raised $12.4m as a first close of its planned $30m series B round, according to a regulatory filing.
The investment consortium includes US electrical retailer Best Buy’s corporate venturing division, oil and gas developer Alpine and venture capital firm Chrysalix.
Kuk Yi, managing partner of Best Buy Venture, is named as an investor, along with David Kurtz from Alpine. Best Buy and Chrysalix had invested $10m in Brammo’s series A round in 2008.
Last week, Brammo also agreed to partner with electronics maker Flextronics.