Thursday, July 14, 2011

Aptera Finds $2.2M

Carlsbad-based Aptera Motors, the beleagured developer of a three wheeled, electric vehicle, has raised $2.2M in what appears to be a convertible debt round. The funding came to light via a regulatory filing earlier this month. The filing indicates the company is in the midst of a $3.0M debt and warrant round. Aptera's efforts appear to be at a standstill, with the firm most recently reporting in May that it is considering a move out of state to take advantage of incentives and lower "structural costs" of operation. Aptera failed to score DOE funding in the last round of loan and incentives from the Federal government's stimulus efforts. The firm previously raised funding from Idealab, Google, Esenjay Investments, The Simons Family, and The Beall Family Trust. More information »

---