Tern has this week closed a US$ 4.3 million round of investment from private investors.
The funds have been earmarked to accelerate global expansion as well as to ramp up investments in R&D.
“We’re only two years old and we’ve grown pretty quickly,” said Joshua Hon, Tern vice president.
“This round of funding lets us continue to invest in all of the critical parts of our operation as we establish the brand in markets around the world. Our investors also bring some great synergies and expertise to our team. We’re proud, but also humbled, that our investors have this confidence in us and our mission of sustainable transport.”
Tern is a privately held company headquartered in Taiwan with offices in the US, China, Finland, and the UK. Just over two years old, the company has won seven international design awards. The brand is currently exhibiting at Interbike in booth 5057.