LAND Secures $3M Investment to Boost Electric Battery Manufacturing

New capital moves U.S. production forward

CLEVELAND, Jan. 16, 2024 /PRNewswire/ -- Today, Cleveland-based electric mobility and portable battery manufacturer LAND announces a new $3 million anchor investment to help scale production and innovation of its cloud-connected CORE battery system.

Easy to charge and swappable, the CORE batteries power LAND's versatile electric motorcycle, The District. Newly developed technology from the company allows users to distribute energy from the battery, providing a portable power source on and off the grid. By simply plugging in the 'Power Tap' accessory to the electric vehicle, consumers can charge other devices, including phones, laptops and household appliances, through the USB-C port and standard plug.

"Despite the economic slowdown, LAND continues to raise capital to bring all manufacturing under one roof, which allows the team to work efficiently, cost effectively and ship directly to customers, ensuring each e-moto is built with the same Cleveland-made quality," LAND Founder and CEO Scott Colosimo says. "Now that we are assembling The District in-house, the next big step is to accelerate battery production at LAND."

LAND closed a successful Series A round in September 2023, raising $7 million to upgrade its 30,000-square-foot facility and expand its team. The funds helped LAND make more new vehicles in 2023 than any year prior and enter a second production run of The District, which includes the Power Tap technology and onboard charging. The efficiencies also enabled the company to lower the price of the e-moto to $6,995, making it one of the most affordable e-motorcycles on the market in 2024.

Beyond giving riders one of the smoothest and quietest two-wheel EV experiences, the greater vision behind LAND is to shape how consumers live, work and play through decentralized energy systems, in which the CORE battery is the solution.

"Being able to make electric batteries in-house is a pivotal moment for the team," LAND Head of Design Evan Painter says. "It allows us to ramp up battery manufacturing in 2024 and continue to innovate and improve the intuitive design of the battery, which then gives the rider an elevated experience."

For more information and financing options, with payments starting as low as $150 a month, visit LandMoto.io.

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About LAND
Founded in 2020 by Scott Colosimo in Cleveland, Ohio, LAND is based on the principle that energy continuity and mobility are essential to modern life. LAND provides a transitional e-Moto ecosystem with a portable power platform (CORE), a game-changing approach in the light electric vehicle industry. With products proudly manufactured in Cleveland, LAND is unwavering in its belief in American ingenuity and world-class craftsmanship. As a design-forward company, LAND is dedicated to constantly evolving to meet the needs of their customers, everyday consumers and businesses looking for energy efficiency.

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SOURCE LAND