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December 11, 2015

Biddeford manufacturer Hyperlite Mountain Gear secures $1.13 million investment

Biddeford-based outdoor equipment manufacturer Hyperlite Mountain Gear recently raised more than $1 million from investors.

The Portland Press Herald reported that 14 investors have provided $1.13 million in the investment deal that closed last month.

Dan St. Pierre, Hyperlite's co-founder and chief financial officer, told the Press Herald that the company is growing rapidly and will use the funds to expand its manufacturing space, marketing efforts and products. The company, based in Biddeford's Pepperell Mill, employs 21 people.

Investors include the Maine Venture Fund, CEI Ventures, Telluride Venture Fund and 11 individual investors, the Press Herald reported. Most of the individual investors are from Maine, including five who belong to Maine Angels, St. Pierre told the paper.

Read more

Investment in Maine companies rises sharply

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