LAND RAMPS UP PRODUCTION OF ELECTRIC VEHICLES WITH SERIES A FUNDING

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May 30, 2023, 10:17 ET

Series A will help LAND scale production in the Midwest to meet customer orders across the U.S.

CLEVELAND, May 30, 2023 /PRNewswire/ -- Cleveland-based electric mobility and portable battery manufacturer LAND announces it is ramping up production of its flagship two-wheel electric vehicle, The District, thanks to new Series A funding. The round allows LAND to expand its production team as well as hand build the electric vehicles at its newly renovated 30,000-square-foot manufacturing facility.

"This is a significant milestone for us as we shift from the pilot run to producing a higher volume of e-bikes for customers," LAND CEO and Founder Scott Colosimo says. "Our goal is to replace CO2 emissions from the millions of motorcycles on the road with electric mobility. But at LAND, the bike is just the beginning to a more energy efficient world."

Founded in 2020, LAND is comprised of an experienced team of designers, engineers and software developers who have a passion for mobility and sustainability. They have personally designed The District and the portable power platform (CORE) from the ground up to be compact, lightweight, and versatile to meet the needs of a range of riders, from beginners to experienced motorcyclists. Featuring four speed settings, from e-bike (27 mph) to e-motorcycle (over 70 mph), The District can legally be taken on and off road to offer users an electrifying experience.

While the round helps LAND complete and ship customer orders, the funding also supports the continued development of The District's platform and portable battery pack, which is a connected power source that can be used by businesses and consumers to reduce their carbon footprint.

The Series A round was led by Ancora, with participation from several other investors across the United States.

"We are very excited to get in the driver's seat and support a Northeast Ohio company that is accelerating energy independence," Ancora Chairman and CEO Fred DiSanto says.

For more information, visit landmoto.io.

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 eMoto 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.

SOURCE LAND