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Melbourne’s Savic Motorcycles raising at $30m valuation

Sarah Thompson, Kanika Sood and Emma Rapaport
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Melbourne-born electric motorbike maker Savic Motorcycles has shipped out its first commercial orders after eight years of development, and is taking a pit stop to meet fund managers in hopes of raising $12 million at a $30 million valuation.

The start-up, which targets modern motorheads looking for a fun yet powerful commuter vehicle, has 240 pre-orders for its 2024 C-Series of motorcycles. That includes the Alpha model which sells for $26,990 and can hit 100 kilometres an hour within 3.5 seconds. A full-charge takes about six hours and can power the motorcycle for 200 kilometres.

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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
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Original URL: https://www.afr.com/street-talk/melbourne-s-savic-motorcycles-raising-at-30m-valuation-20241023-p5kktp