Damon Motors has raised more than $30 million in funding, completing a bridge round led by Benevolent Capital, SOL Global Investments, Zirmania, and others. The financing couples with skyrocketing preorder sales that have now reached $20 million for the line of HyperSport motorcycles. The capital raised will further fuel Damon’s path to market and enable demo tours, pre-production development and testing, and associated hires. Damon has also expanded its board of directors with the additions of Jaques Clariond and Howard Wu.
“We have unveiled the future of two-wheel transportation and yielded high demand in North America and Europe, validating the market need for high-performance electric motorcycles,” said Jay Giraud, founder & CEO at Damon Motors. “On the back of this demand, Damon will produce an entire line of medium- and high-performance motorcycles over the next few years, with HyperDrive serving as the core of each model.”
Jaques Clariond is a Managing Partner and member of the Investment Committee at Baudpont and serves in Senior Advisor roles at Blue Ivy Ventures and Benevolent Capital. Jaques brings a strong ability to develop investment strategies, manage complex client relationships, and identify and execute investment opportunities. He offers a unique blend of expertise across public and private asset classes, portfolio construction, and direct private equity, real estate, and venture capital deal structuring.
Howard Wu is the Global Head of Telecom and the General Manager for Quanta Cloud Technology USA. In his career, Howard has managed global business and regions from startups to Fortune 500 companies. As a former startup founder, Howard has a deep understanding of the challenges and skepticism founders must endure and persevere, as well as the challenges facing Global Fortune 500s of today across data and digitization.
Damon’s announcement comes on the heels of the first anniversary of its flagship HyperSport motorcycle launch at CES 2020. The company has ridden a wave of momentum ever since, selling nearly 1000 motorcycles and selling out of its limited edition HyperSport models.
The Damon HyperSport sets a new standard in motorcycle safety, awareness and connectivity. It boasts well over 200hp and 200nm of torque delivered at zero rpm, a top speed of 200 mph, a range of more than 200 highway miles per charge. All HyperSports are outfitted with CoPilot, Damon’s 360° advanced warning system; Shift, which transforms the riding position between sport and commuter modes with the push of a button; and HyperDrive, the world’s first 100% electric, multi-variant powertrain platform optimized for maximum performance, design and safety.