Stark says they are “the fastest-growing Spanish company ever in history” — and on the gas… um, charge. The Barcelona-based operation just closed a new investment round to fund growth and continue its expansion of the model platforms. But here is where the plot thickens: New Delhi-based Eicher Motors Limited led this round of funding. Name sound familiar? The Indian multinational company manufactures commercial vehicles and motorcycles… Namely Royal Enfield.
While Eicher Motors led the last round, Stark says there is nothing to read into this as “the investment mainly came from the company’s existing shareholders, along with a select group of new high-profile investors from the MotoGP world,” adds Anton Wass, CEO & Founder. “We decided to close this internal investment round at a very attractive valuation in order to do it quickly while offering very competitive terms to the people that have already supported the business in previous rounds,
“We managed to close it within a couple of weeks, which is a strong testament to the results our team has created,” notes Wass. “We also used this as an opportunity to invite a few selected external investors that we’d like to have in our team.”
The strategy must be working as Stark is one of the very few EV companies that has achieved sustained profitability — within its 6th year of business, and 2 years after delivery of its first vehicle. “We are on a mission to prove that electric motorcycles can outperform ICE in every way,” Wass continued. “Each new model from Stark will be the leader within its category.”
With this latest round of funding as working capital, the firm will accelerate its continued growth past the 70 countries it already distributes to, with some exciting new products…
Stay tuned!
