Aptera pulls in over $24M in funding

Carlsbad, Calif.-based electric car maker Aptera Motors said that it raised more than $24 million in a Series C round of funding. The news comes a day after Google.org, the philanthropic arm of Mountain View, Calif.-based Google (Nasdaq: GOOG), announced its first investments under its RechargeIT initiative, including some cash for Aptera (see Google plugs cash into plug-ins).

Google.org said it put $2.75 million into Aptera and Austin, Texas, battery developer ActaCell, but did not disclose how much cash it put into each company.

In addition to Google.org, Aptera's investors include Idealab, Esenjay Investments, the Simons family, and the Beall Family Trust. Aptera raised approximately $20 million in financing last year from Idealab and an undisclosed angel investor.

"We're excited that the tremendous demand that we've received from the thousands of individuals who have pre-ordered their Aptera Typ-1 has been matched with a strong endorsement from our investment partners," said Steve Fambro, founder and CEO of Aptera.

"The vehicle is exciting, the timing seems perfect and the market is eager to buy one of these first built units. These new funds will be instrumental as we pursue our goal of bringing the Typ-1 to market later this year."

The company said the funds will be used to start initial production of its Typ-1, a two-seat, three-wheeled vehicle that it plans to produce in electric and plug-in hybrid versions. The first production models are expected to be available in December, with the production rate increasing throughout 2009.