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Classified in: Transportation, Science and technology

LAND Closes a Major Investment Milestone with Fenix Equity Partners to Scale US Production

CLEVELAND, May 24, 2022 /PRNewswire/ -- LAND, the electric vehicle manufacturer, has closed their A1 investment round with Fenix Equity Partners. This investment round is allowing LAND to scale US production, bring in top talent in the EV space, expand their IOT platform and manufacturing footprint in Cleveland, Ohio.

Scott Colosimo, founder and CEO of LAND, states, "We have been working with Andrew Sloop and his team at Fenix over the last several months to lay out a solid growth plan for LAND. Fenix took the lead in this current round and has committed to following us in our A2 round, which shows their commitment to scaling with our company." 

LAND's focus is product first, scaling while producing vehicles and batteries. This A1 round will help LAND produce its connected battery platform and push production quicker as they scale.  

LAND is in the process of outfitting 12,000 sq ft in their existing Cleveland factory to meet growing demand for both their batteries and electric vehicles. LAND has also entered into a contract to expand their US headquarters in Cleveland's Tech District, with an additional +40,000 sq ft of manufacturing space, a new tech and experience center in the heart of Cleveland, Ohio.

About Fenix Equity Partners:
The combined Fenix management team has executed domestic and international transactions and acquisitions totaling more than $2.7 billion USD with senior executive experience within public and private companies. The Fenix operating team has a proven track record of driving integration and synergies across acquisitions to increase operating profit post-transaction.

About LAND Energy:
LAND is an electric vehicle manufacturer based in Cleveland, OH. Founded in 2020 by Scott Colosimo and his team, LAND is based on the principle that energy continuity and mobility are essential to modern life. LAND offers a transitional E Moto ecosystem with a hot-swap power platform (CORE), a revolution in the electric vehicle industry. With products proudly manufactured in the United States, LAND is unwavering in its faithfulness to American innovation and world-class craftsmanship. As a design-forward company, LAND is dedicated to constantly evolving to meet the needs of their customers and the ever-changing industry. For more information, visit: https://landenergy.io/

CONTACT: Scott Colosimo, LAND, 216-712-2613, [email protected]


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News published on 24 may 2022 at 08:42 and distributed by: