Midlands firm secures investment to launch ‘world’s most advanced e-motorcycle’
- On November 15, 2018
- By GrowthInvest Admin
A Coventry business has completed a multi-million-pound funding round to launch what it claims is the world’s most advanced electric motorcycle.
Arc Vehicle has secured investment from Mercia Fund Managers’ EIS funds; the MEIF Proof of Concept & Early Stage Fund, managed by Mercia and part of the Midlands Engine Investment Fund; and Jaguar Land Rover’s venture capital fund, InMotion Ventures, as well as a number of private investors.
The Vector, which is due to be unveiled today, Tuesday, at the Milan Motorcycle Show, aims to be the cleanest, safest and most fulfilling motorcycle on the road. The motorcycle is accompanied by a connected helmet and ‘intelligent’ rider jacket which creates a ‘human-machine interface’, feeding the user important information when riding. The hand-made, lightweight vehicle is set to retail at £90,000.
Arc was founded by Mark Truman, who has spent two years developing the bike with a team of top engineers. As part of the deal, the company has appointed David Roberts – who has held senior roles at both Aston Martin and Chrysler – as Chair.
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