E-moto startup Alta Motors reportedly powers down

Brisbane, California based e-motorcycle startup Alta Motors has ceased operations, TechCrunch has confirmed.  Earlier today Asphalt and Rubber — and several subsequent outlets — reported the company stopped operating this morning, fired its staff, and may be looking for a buyer. Alta has yet to comment on the situation. “As of this morning I no longer represent […]

Brisbane, California based e-motorcycle startup Alta Motors has ceased operations, TechCrunch has confirmed. 

Earlier today Asphalt and Rubber — and several subsequent outlets — reported the company stopped operating this morning, fired its staff, and may be looking for a buyer. Alta has yet to comment on the situation.

“As of this morning I no longer represent Alta Motors so I’m not in a position to speak on it,” a former Alta Motors spokesperson told TechCrunch on background when asked about the shutdown. “I forwarded your request for more info to the board, and they’ll have to comment,” said the former comms rep. Alta’s head office has not respond to requests for comment.

The EV company specializes in producing dual-sport and high performance electric powered off-road motorcycles. The startup had raised $45 million and counts Tesla co-founders Marc Tarpenning and Martin Eberhard among its investors.

Alta made news in March when it entered a co-development partnership with Harley Davidson. This aligned with Harley’s EV push, including the debut of a production e-moto by 2019, an expanded electric line-up to follow, and the opening of a Silicon Valley research facility.

Harley Davidson wouldn’t give a solid “no” to reports its partnership with Alta had concluded but their statement TechCrunch seems a pretty strong indication they’re business with the startup is in the past.

“Our collaborative efforts with Alta Motors were productive and we were pleased with the development work we partnered on,” Harley Davidson Communications Director Patricia Sweeney told TechCrunch.  

TechCrunch visited Alta’s facilities, tested its motorcycles, and interviewed co-founder Marc Fenigstein earlier this year. The startup has 70 dealerships nationwide  and our reporting flagged it is a potential acquisition target in a motorcycle industry that could be shifting electric.

On the competition level, Alta has been attempting compete with gas bikes by seeking entrance in American Motorcycle Association sanctioned motocross events. In September, the company became the first e-moto to earn a podium spot in AMA competition in another race class, endurocross.

With Harley Davidson’s EV commitment potentially pushing the motorcycle industry to voltage, Alta could be a discounted acquisition and R&D buy for Indian Motorcycle or  other major gas companies — Honda, Yamaha, BMW — who have been slow to develop production e-motos.

E-moto startup Alta Motors reportedly powers down

Brisbane, California based e-motorcycle startup Alta Motors has ceased operations, TechCrunch has confirmed.  Earlier today Asphalt and Rubber — and several subsequent outlets — reported the company stopped operating this morning, fired its staff, and may be looking for a buyer. Alta has yet to comment on the situation. “As of this morning I no longer represent […]

Brisbane, California based e-motorcycle startup Alta Motors has ceased operations, TechCrunch has confirmed. 

Earlier today Asphalt and Rubber — and several subsequent outlets — reported the company stopped operating this morning, fired its staff, and may be looking for a buyer. Alta has yet to comment on the situation.

“As of this morning I no longer represent Alta Motors so I’m not in a position to speak on it,” a former Alta Motors spokesperson told TechCrunch on background when asked about the shutdown. “I forwarded your request for more info to the board, and they’ll have to comment,” said the former comms rep. Alta’s head office has not respond to requests for comment.

The EV company specializes in producing dual-sport and high performance electric powered off-road motorcycles. The startup had raised $45 million and counts Tesla co-founders Marc Tarpenning and Martin Eberhard among its investors.

Alta made news in March when it entered a co-development partnership with Harley Davidson. This aligned with Harley’s EV push, including the debut of a production e-moto by 2019, an expanded electric line-up to follow, and the opening of a Silicon Valley research facility.

Harley Davidson wouldn’t give a solid “no” to reports its partnership with Alta had concluded but their statement TechCrunch seems a pretty strong indication they’re business with the startup is in the past.

“Our collaborative efforts with Alta Motors were productive and we were pleased with the development work we partnered on,” Harley Davidson Communications Director Patricia Sweeney told TechCrunch.  

TechCrunch visited Alta’s facilities, tested its motorcycles, and interviewed co-founder Marc Fenigstein earlier this year. The startup has 70 dealerships nationwide  and our reporting flagged it is a potential acquisition target in a motorcycle industry that could be shifting electric.

On the competition level, Alta has been attempting compete with gas bikes by seeking entrance in American Motorcycle Association sanctioned motocross events. In September, the company became the first e-moto to earn a podium spot in AMA competition in another race class, endurocross.

With Harley Davidson’s EV commitment potentially pushing the motorcycle industry to voltage, Alta could be a discounted acquisition and R&D buy for Indian Motorcycle or  other major gas companies — Honda, Yamaha, BMW — who have been slow to develop production e-motos.

Hong Kong co-working startup Campfire pulls in $18M ahead of global expansion

WeWork may be doubling down on Asia, having initially focused its efforts on China, but that isn’t stopping local players from hatching ambitious expansion plans of their own. One of those eying new markets is Hong Kong-based Campfire, which tries to stand out from the crowd with industry-focused spaces. Today, the startup announced it has […]

WeWork may be doubling down on Asia, having initially focused its efforts on China, but that isn’t stopping local players from hatching ambitious expansion plans of their own.

One of those eying new markets is Hong Kong-based Campfire, which tries to stand out from the crowd with industry-focused spaces. Today, the startup announced it has raised an $18 million Series A ahead of planned expansions to three overseas countries: Singapore, Australia and the UK. It previously raised $6 million in March 2017.

Two-year-old Campfire’s business right now is in Hong Kong, where it has eight locations which include co-education, co-retail and co-living sites, as well as more standard co-working venues. In the case of its fashion-focused location, that even includes runway, photo studio, fabric facility and 3D printer.

The new capital comes from a trio of real estate firms in Hong Kong, they are Kwai Jung Group, Fast Global Holdings — which is a subsidiary of Rykadan Capital — and Sa Sa. In the latter case, Sa Sa is actually a cosmetics brand that operates across Greater China and parts of Southeast Asia, but the firm owns a significant retail footprint. That includes the building that houses Campfire’s ‘V Point’ space in Causeway Bay, Hong Kong, so the relationship is already well advanced.

A Campfire representative confirmed that the capital is all provided up front and equity-based, in other words it is an investment in the business not specific locations or joint ventures, as is sometimes the case with investment deals in co-working firms.

Going beyond Hong Kong, the group is set to open its first overseas space in London (Shoreditch) with co-working locations in Melbourne, Sydney and Singapore planned thereafter. Further down the line, it is looking to move into “global gateway cities,” with the likes of Tokyo, Osaka, Bangkok and Brisbane among those that are on the list.

Co-working is sufficiently developed worldwide that most countries across Asia have a number of local players who compete with WeWork, the global leader valued at $35 billion, either now or else soon in the future. Some of the more developed of that bunch include Singapore’s JustCoEV Hive in Indonesia and China’s Ucommune. WeWork has actually been busy consolidating its position, having snapped up Spacemob in Southeast Asia and its main rival in China, Naked Hub.