“It could be teens and professionals commuting to school or work, running errands, retirees reliving the joy of riding again, commercial last-mile customers. “E-bikes are really the solution to a lot of our toughest challenges for the environment, and it’s the direct reason why customers are picking them up,” he said. It’s about getting people out of their cars and back outside. It’s about making green transportation more accessible. “It’s all just designed to flow into expansion of our operations, customer service and innovation.”įor Radenbaugh, the guy who started building e-bikes at 15 years old, expanding Rad Power Bikes isn’t just about growing his business. “Our business has been largely break-even or profitable, and it kind of fluctuates around break-even, so this is all growth capital,” said Radenbaugh. The company says it will triple the number of physical locations of mobile service and retail stores by the end of next year. “I think of our business more like a solutions business, so it’s also our buy online experience and pickup in store experience, our integrations with our retail stores and mobile service centers and making all that a seamless customer experience,” said Radenbaugh. and Europe in order to strengthen its logistics and fulfillment capabilities. The plan is to keep that momentum going into next year by adding more distribution centers in the U.S., Canada, the U.K. Rad has also opened up multiple distribution centers this year, and by the end of the year, expects to triple its capacity to deliver bikes and accessories to customers within five days. Rad has multiple source suppliers and manufacturing partners across continents to fall back on and has even started chartering its own vessels to ensure bikes are delivered, Radenbaugh told TechCrunch in a previous interview. That’s in part due to the company’s diversified and dedicated supply chain. Rad Power has launched dozens of new bike accessories and multiple new e-bikes this year, despite the supply chain shortages that have caused delays on product releases across industries. It’s Rad’s scale that the company is leaning on now in order to really become a powerhouse. “I think the fact that some of the world’s most respected investors are doubling down just shows this competence in our business, both with the scale advantage that we have and also just the overall potential in the e-bike market,” Radenbaugh told TechCrunch. Rowe Price Associates, Inc., Counterpoint Global (Morgan Stanley), Vulcan Capital, Durable Capital Partners LP and The Rise Fund, TPG’s multisector global impact investing strategy. Rad’s latest round is led by institutional investors Fidelity Management & Research Company, with investments from funds and accounts advised by T. The Series D raise from existing investors, which brings the company’s total funding to $329 million, comes just eight months after Rad raised $150 million. The Seattle-based startup aims to use the funds to boost investments in product and technology innovation and beef out its distribution network, according to founder and CEO Mike Radenbaugh. $1599 for the Rad City, a difference ofFat tire e-bike manufacturer Rad Power Bikes just raised another $154 million. Both ship with convenience features like fenders and a rear rack. Level offers multiple sized frames to provide riders with the best fit and most comfortable ride.Īventon's Level and the Rad City by Rad Power are both urban-focused commuter ebikes, designed for replacing a car trip to work or school.Slightly larger tires to give you additional rotational inertia which allows you to hold speed better.Total Payload capacity on the Level is 300 lbs.Integrated battery and controller - They are integrated & hidden within the frame instead of hanging off & exposed to the elements outside of the frame providing a cleaner look & fewer cables to snag.Significantly faster speeds - Level is a Class III ebike on pedal assist, vs.$1599 for the Rad City, aĭifference of $200. Aventon's Level and the Rad City by Rad Power are both urban-focused commuter ebikes, designed for replacing a car trip to work or school.
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