Karma is still under development.
Fisker Automotive Incorporated, which is still scrambling to get its plug-in electric vehicle to market this year, has announced procurement of additional capital from private sources. The fledgling maker of plug-in electric vehicles said that it has entered into definitive agreements to receive $85 million in venture capital funding.
The financing is expected to be completed this month and will be the fourth and largest investment round since the company’s inception in August 2007. New York-based Eco-Drive (Capital) Partners LLC, a European-American investment consortium, and Kleiner Perkins Caufield and Byers, an early investor in Fisker and one of Silicon Valley’s most prestigious venture capital firms, have together agreed to provide the additional capital, Fisker announced.
The money will be used to further the development and manufacturing of its Karma plug-in hybrid family automobiles. The first production versions of the Fisker Karma are scheduled to roll off the assembly line in Finland later this year.
“The investment by Eco-Drive and Kleiner Perkins validates our vision of joining together the advances in technology for plug-in hybrid powertrains with the eco-chic beauty and eco-conscious comfort of the Fisker Karma. We are proud to have Eco-Drive behind us, and to see Kleiner Perkins reaffirm its confidence in our future direction,” said Henrik Fisker, Fisker Automotive CEO.
“This investment is a strong endorsement of our business s model and future product offerings in a challenging business environment,” Fisker claimed. (more…)