The $22.5 million round was joined by strategic investors Doosan Bobcat North America, Inc. and Toyota Ventures.

The sale leaves Doosan Enerbility with a minority ownership of Bobcat Co. at 46.06%.

Doosan Bobcat, Inc., a company within Doosan Group, has announced its global branding strategy to create business and growth opportunities for the Doosan Bobcat product portfolio.

With accessibility to major airports and highways, these new facilities are located closer to customers and dealers, which will enhance the availability and delivery of Bobcat parts and attachment products throughout the U.S. and Canada.