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.
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