Zero Motorcycles Funding, Investors & Competitors

Zero Motorcycles has raised $389M across 24 funding rounds, most recently a $100M undisclosed-stage round in October 2024.

Last Zero Motorcycles funding round

$100M

Undisclosed stage · Oct 2024

Cumulative funding Zero Motorcycles raised

$389M

across 24 funding rounds

Key investors in Zero Motorcycles

  • CSC Upshot
  • Invus
  • HeroMotoCorp
  • Exor
  • Polaris Kin Pte Ltd

Zero Motorcycles Overview

About Zero Motorcycles

Zero Motorcycles is a Scotts Valley-headquartered manufacturer of high-performance electric motorcycles. Founded in 2006, the company produces models such as the SR/S, SR/F, and FXE, featuring Z-Force motors that deliver up to 165 horsepower and 300-mile ranges with Power Tank extensions. Exported to over 40 countries, Zero Motorcycles emphasizes zero-emission propulsion, rapid charging via Cypher III systems, and customizable ride modes for street and off-road use. The firm holds leadership in the electric powersports market, with bikes certified for European and North American standards.


Founded

2006

HQ

United StatesSanta Cruz, CA

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Zero Motorcycles Funding History

Zero Motorcycles has raised a total of $389M across 24 funding rounds.

Zero Motorcycles' first fundraising round was a $7M Series A in February 2013. The most recent completed round was a $100M undisclosed-stage round in October 2024.

Zero Motorcycles funding rounds

Zero Motorcycles funding rounds
DateStageInvestorsRaisedDeal Summary
Oct 2024Undisclosed stage-$100MZero Motorcycles, a California-based electric motorcycle manufacturer founded nearly 20 years ago, specializes in high-performance electric motorcycles including street, sport, and motocross models, with annual model refreshes and development of new products like a rumored mini-bike. Under CEO Sam Paschel since 2017, Zero aims to lead in two-wheeled EVs with powertrain innovations, leveraging experience against regulatory and market hurdles. The company is closing an equity funding round targeting over $120 million as of late October 2024, with $100 million already raised from two undisclosed investors, marking its first raise since a $107 million round in 2022 backed by Polaris, Hero MotoCorp, Exor, Invus Group, and others. Funds will support expansion, new model development, and operations amid industry challenges. Sales traction remains low, with 1,944 units registered globally in the first nine months of 2025, up just 0.6% despite new models and motocross entry. Zero operates in a turbulent electric motorcycle sector, where competitors like Italy's Energica filed for bankruptcy in October 2024 after workforce cuts, Cake emerged from bankruptcy under new ownership, and Fuell and Sondors ceased operations. Harley-Davidson's LiveWire spinout reported Q3 2024 losses of $22.7 million on 99 motorcycle sales, with more revenue from kids' balance bikes. Despite these headwinds, investor confidence persists in Zero, positioning it to broaden its portfolio for urban and entry-level riders while addressing high EV development costs and low adoption rates.
Sep 2022Undisclosed stageExor (lead); HeroMotoCorp (lead); Invus (lead); Polaris Kin Pte Ltd (lead)$107MZero Motorcycles, a California-based premium electric motorcycle manufacturer, completed a $107 million financing round on September 29, 2022, with participation from strategic investors Polaris, Exor, Hero MotoCorp, long-time backer Invus, and undisclosed others. The round brings cumulative capital raised to over $450 million, with an additional closing anticipated by year-end to exceed $500 million. Proceeds fund global scaling of operations, sales expansion, and development of new models to sustain rapid growth. CEO Sam Paschel highlighted the company's leadership in electric motorcycles and powertrains, having sold over 20,000 vehicles accumulating 165 million miles. Zero's business spans consumer motorcycles including on-road, adventure sport, and dual-sport models; fleet sales to over 200 police departments and authority fleets; and powertrain technology via its Cypher III operating system for partner applications. Hero MotoCorp's up to $60 million equity investment provides access to Zero's electric motorcycle expertise while offering Hero's global network. The company positions itself as the global leader in electric motorcycles and powertrains, pushing industry electrification. Cumulative funding exceeds $620 million post-2022 per some reports, amid sector difficulties with competitors like Energica and Cake facing bankruptcy.
Jan 2022Undisclosed stage-$40MZero Motorcycles, a California-based electric motorcycle manufacturer founded in 2006, raised $107 million in a funding round in 2022 from partners Polaris and Hero MotoCorp. This investment supported the company's ongoing innovation in electric motorcycles and powertrains, building on its position as a leader in the powersports electrification space with a global supply chain and broad product portfolio. The round followed earlier financing, such as a $25 million raise in 2019 that brought aggregate equity capital to over $250 million, emphasizing Zero's capital-efficient growth and market dominance, selling more electric motorcycles than competitors combined. The 2022 funding provided resources for continued expansion amid a challenging electric motorcycle market, where peers like Energica, Cake, Fuell, and Sondors faced bankruptcy or closure due to high development costs and low adoption. Zero differentiated itself through established technology, annual model refreshes, and strong investor backing from entities like Polaris Industries and The Invus Group. In October 2024, Zero secured another $120 million round, again targeting expansion and new models like a potential mini-bike, underscoring sustained investor confidence despite industry headwinds. Zero's longevity—nearly 20 years—and focus on power-dense EV technology position it ahead of struggling rivals, including Harley-Davidson's LiveWire, which reported significant losses. The company maintains a private status with no public stock trading or IPO, and board members include executives from key investors.
Oct 2021Series A-$7MZero Motorcycles manufactures electric motorcycles. The company completed an unattributed funding round of $7 million on October 26, 2021, from undisclosed investors. This followed a prior $20 million raise announced on June 9, 2021. A subsequent corporate minority round of $106.65 million occurred on January 4, 2022, led by Exor, Hero MotoCorp, Invus Group, Polaris, and undisclosed investors. Zero Motorcycles has raised a total of $448.52 million across 53 funding rounds as of 2024.
Jan 2021Series A-$5MZero Motorcycles is a California-based manufacturer of high-performance electric motorcycles. The company designs, manufactures, and sells a range of electric motorcycles for both street and motocross segments, positioning itself as a leader in the e-motorcycle market. By October 2024, Zero Motorcycles had raised over $620 million cumulatively across 53 funding rounds, demonstrating sustained investor confidence despite industry-wide challenges facing electric motorcycle manufacturers.
Feb 2020Undisclosed stage-$16M-
May 2019Series A-$5MZero Motorcycles closed a $25 million funding round on April 23, 2019, bringing its aggregate equity capital raised to over $250 million. The company, a global leader in electric motorcycles, had recently launched its SR/F model and emphasized its power- and energy-dense EV technology, global supply chain, and broad product portfolio. Zero positions itself as the top brand in powersports electrification, selling more electric motorcycles annually than all competitors combined.
Apr 2019Undisclosed stage-$25MZero Motorcycles is an electric motorcycle company founded in 2006 by Neal Saiki, developing power- and energy-dense EV technology for powersports. In 2020, it raised $25 million in funding, bringing total capital raised to $250 million, with previous investors including Invus Group and the California Energy Commission. A later $107 million round in 2022 brought total funding over $450 million. The company highlighted its capital efficiency and market leadership, claiming to sell more electric motorcycles annually than all competitors combined. In early 2019, Zero unveiled the SR/F model with 110 horsepower, 200-mile range, one-hour charge, and 124 mph top speed, priced at $18,995, featuring Cypher III OS and Bosch stability control. The company planned production of up to 10,000 units and expansion of its 200-dealer network.
Dec 2018Series A-$10M-
Dec 2017Series A-$7MZero Motorcycles raised $25 million in April 2019. The company received a $106.65 million corporate minority investment in January 2022 from Polaris, Hero MotoCorp, Exor, Invus Group and others. Zero Motorcycles closed a $120 million round in October 2024.
Aug 2017Seed-$2M-
Feb 2017Series A-$5M-
Sep 2016Seed-$2M-
Feb 2016Series ACSC Upshot$5M-
Dec 2015Seed-$1M-
Aug 2015Series A-$7M-
Jun 2015Seed-$4M-
Dec 2014Seed-$2M-
Oct 2014Series A-$6M-
Jul 2014Series A-$5MZero Motorcycles was founded in 2006 and by 2022 had sold over 20,000 vehicles with accumulated on-road and off-road mileage exceeding 165 million miles. Later rounds include a $25 million raise in April 2019 (total capital exceeding $250 million), a $107 million round in September 2022 (involving strategic investors Polaris, Exor, and Hero MotoCorp), and a $76 million round in early 2025.
Mar 2014Series A-$5M-
Dec 2013Series A-$10M-
Jul 2013Series A-$7M-
Feb 2013Series A-$7M-

Who has invested in Zero Motorcycles?

5 investors have backed Zero Motorcycles across its funding rounds, including CSC Upshot, Invus, HeroMotoCorp, Exor and Polaris Kin Pte Ltd.

Lead investors include Exor, HeroMotoCorp, Invus and Polaris Kin Pte Ltd.


Zero Motorcycles Investors

Investors in Zero Motorcycles by funding rounds participated
InvestorHQRoundsRoleFirst check
CSC UpshotUnited StatesSan Francisco, CA1ParticipantFeb 2016
Polaris Kin Pte LtdSingaporeSingapore1LeadSep 2022
InvusUnited StatesNew York City, NY1LeadSep 2022

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Zero Motorcycles Competitors

Zero Motorcycles competitors include listed companies like Tesla, Tata Motors, Tata Motors Passenger Vehicles and XPENG, and private ones like GAC Aion and Tata Passenger Electric Mobility.

Public and private companies comparable to Zero Motorcycles
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
TeslaUnited StatesUnited StatesPublicly listed$95B$10B$1.4T13.8x
Tata MotorsIndiaIndiaPublicly listed$8.7B$720M$17B1.8x
GAC AionChinaGuangzhouPrivate$2.5B-$15B6.0x
Tata Motors Passenger VehiclesIndiaIndiaPublicly listed$35B$2B$12B0.4x
XPENGChinaChinaPublicly listed$11B$156M$10B1.0x
Tata Passenger Electric MobilityIndiaMumbaiPrivate--$9.1B-

Zero Motorcycles Public Comps

Zero Motorcycles is still privately-owned, but its public comps include Tesla, Toyota, CATL, BYD, General Motors, Ferrari, Volvo, LG Energy Solution, PACCAR and Hyundai.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Tesla$95B$10B15.0x13.8x140.8x97.4x
Toyota$326B$49B1.3x1.3x8.8x11.4x
CATL$63B$16B2.8x2.1x11.0x9.2x
BYD$120B$18B0.9x0.9x6.3x5.8x
General Motors$185B$15B1.0x1.0x12.1x8.5x
Ferrari$8.2B$3.2B9.0x8.5x23.4x21.9x
Volvo$49B$7.1B1.9x1.7x12.8x11.4x
LG Energy Solution$17B$3.4B4.8x3.9x24.1x22.2x

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Common questions about Zero Motorcycles

When was Zero Motorcycles founded?Zero Motorcycles was founded in 2006.
Where is Zero Motorcycles headquartered?Zero Motorcycles is headquartered in Santa Cruz, CA, United States.
Is Zero Motorcycles publicly listed?No, Zero Motorcycles is a private, VC-backed company.
How much funding has Zero Motorcycles raised?Zero Motorcycles has raised $389M across 24 funding rounds.
What was Zero Motorcycles' last funding round?Zero Motorcycles' last funding round was a $100M undisclosed-stage round in October 2024.
Who are Zero Motorcycles' investors?Zero Motorcycles' investors include CSC Upshot, Polaris Kin Pte Ltd, Invus, Exor and HeroMotoCorp.
Which companies are comparable to Zero Motorcycles?Companies comparable to Zero Motorcycles include Tesla, Tata Motors, GAC Aion, Tata Motors Passenger Vehicles, XPENG and Tata Passenger Electric Mobility.

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