Rad power bikes
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.
RAD POWER BIKES SERIES
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. It provides a 40 to 72 km per charge range.Fat tire e-bike manufacturer Rad Power Bikes just raised another $154 million. Tektro disc brakes are responsible for braking. In terms of possibilities, RadMission will cope with a 275 lb (125 kg) load (including a rider’s weight), and offers integrated brake light, front lighting, LED control panel, single-speed drivetrain and 27.5-inch Kenda Kontact tires with K-Shield puncture-resistant liners and reflective sidewalls. All thanks to the RadMission 6061 aluminum frame in two versions, which, together with the equipment, weighs 50 lb (about 22 kg).
In turn, its 48 V/10.5 Ah lithium-ion battery will provide a range of 40 to 72 km (25-45 miles), depending on the mode of electric assistance used. The RadMission e-bike comes equipped with a 500-W motor for a top speed of 20 mph (32 km/h), and there’s a 250-W version for Europe that tops out at 15.5 mph (25 km/h). Mainly dedicated to the city, although its 27.5-inch wheels would allow it to travel a few beaten paths, the RadMission also benefits from a lighter weight than its counterparts. While the other models vary between $1,199 and $1,599, the newcomer is available for just $999. To distinguish itself from its counterparts, the RadMission offers the least expensive price list in the range.