Alicante electric motorcycle company Next Electric Motors has secured a funding milestone of one million euros, with the investment encouraging rapid expansion. The round was led by a fund, accelerating the company’s growth plan. As reported by the company, Kereon Partners joined the cap table in 2020 and remains a pivotal investor in its strategy.
The funding is earmarked to attract top talent, broaden the product range, and strengthen the companys international footprint. The expansion aims to solidify operations across Europe where the brand already has a presence in Spain, Portugal, France, Belgium, the Netherlands, Switzerland, Germany, Italy, Malta and Greece, while preparing for further scale in other markets.
During 2022 Next Electric Motors experienced rapid growth, reporting a triple increase in revenue as it expanded both domestically and abroad. This surge followed the release of new models such as the Next Mojito, which achieved strong sales in less than a year and helped establish the brand as a noteworthy player in the electric motorcycle space.
In 2023 the company outlined plans to launch a second venture featuring two new models with performance tuned for urban and sport riding. The NX2 is set to be a high performance GT scooter for riders who value speed and agility in an electric package, while the NXPlus targets the urban professional market with a practical, efficient design for daily use.
Next Electric Motors began when Miguel Hernandez connected with the team at the University Science Park of Elche. Xulei Xu and Antonio Navarro shared a vision to launch an electric motorcycle brand that could compete with combustion models on price and performance.
The idea attracted early backing from Lanzadera, Juan Roig’s business accelerator, where the startup spent its first years. Later, Basque family office Kereon Partners joined, and by the end of 2020 a first funding round of 500 000 euros was secured to propel development.
Initial market validation came through a pre sale campaign that allowed the company to sell 33 units even before any motorcycle existed in production. This showed strong demand and helped shape production planning.
From the outset the founders emphasized the importance of international expansion, a strategy the company has followed through successive years.
Regarding the one million euro raise, half of the funds were committed by Kereon Partners in private equity, with the remainder coming from a participatory loan and financing from Enisa. These details reflect a diversified funding approach aimed at sustaining rapid growth and global market entry.