In a significant funding round, Zero Electric Motorcycles has secured over $120 million to fuel its expansion and development of new models. According to a filing with the U.S. Securities and Exchange Commission, the company has already sold around $100 million of the equity round to two undisclosed investors.

This new funding comes on the heels of Zero's previous $107 million raise in 2022 from Polaris and India's Hero MotoCorp. The company had stated at the time that it had the necessary resources to continue pushing the boundaries of two-wheeled electric vehicles and electric powertrains.

Notably, Zero's successful fundraising stands out amidst a challenging landscape for electric motorcycle companies. Italy's Energica recently filed for bankruptcy, while Cake, a design-forward e-moto startup, filed for bankruptcy earlier this year. Smaller players like Fuell and Sondors have also gone out of business. Meanwhile, Harley-Davidson's electric motorcycle spinout Livewire continues to struggle, reporting a $22.7 million loss in the third quarter.

Zero's ability to attract significant funding despite these industry challenges is a testament to its commitment to innovation and expansion. The company, which typically refreshes its models every year, is rumored to be working on a mini-bike and will likely use this new funding to drive growth and development in the electric motorcycle space.