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Harbinger Motors, a Southern California-based automotive manufacturer, has successfully raised $60 million in a Series A funding round. This funding was backed by a diverse group of investors, including Ridgeline and THOR Industries, both of whom share a commitment to sustainable mobility transformation.
Broad Investor Support
The funding round witnessed commitments from notable names such as THOR Industries, Ridgeline, Greycroft, and Tiger Global. These investments highlight the growing demand for innovative electrified mobility solutions. Harbinger’s electrified chassis, powertrains, and battery technologies are set to revolutionize medium-duty commercial and specialty vehicles.
Electrifying the RV Market
THOR Industries, a leading global RV manufacturer, along with its investment partner TechNexus Venture Collaborative, has strengthened its partnership with Harbinger. This collaboration aims to accelerate the development of electrified recreational vehicles (RVs). THOR’s investment in Harbinger signifies its commitment to providing electrification solutions for motorized RVs, emphasizing Harbinger’s unique position in the medium-duty chassis market.
Sustainability at the Forefront
The Coca-Cola System Sustainability Fund, managed by Greycroft, has also joined the Series A round. This addition, along with other new investors like Riverstone Holdings and Squarepoint Capital, underscores Harbinger’s dedication to sustainable transportation solutions. Harbinger’s mission aligns with the vision of these investors, aiming to revolutionize the commercial and specialty vehicle landscape with a focus on reducing carbon footprints.
Reaffirming Commitment
Several returning investors, including Tiger Global, Kalyani Mobility, and Maniv Mobility, have reinvested in Harbinger. This reaffirms their belief in Harbinger’s vision and potential. As a testament to this commitment, Ridgeline’s Co-Founder, Ryan Clinton, will join Harbinger’s Board of Directors.
Final Thoughts
Harbinger Motors is poised to make significant strides in the electric vehicle industry, with its recent funding acting as a catalyst. The company’s focus on sustainable transportation solutions, combined with the support of a diverse group of investors, sets the stage for a promising future in the realm of electrified mobility.
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