Rad Power Bikes raises massive $150M round to scale e-bike business across globe
(Rad Power Bikes Photos)
After a pandemic year that spurred huge demand for its e-bikes, Rad Power Bikes is raising $150 million to fuel growth.
It’s the largest investment in an e-bike brand and reflects investor confidence in a global electric bike market expected to nearly double in size to $70 billion by 2027.
Profitable and growing, Rad CEO Mike Radenbaugh said that the minority investment will help help the company on its mission to “democratize the electric bike.”
Mike Radenbaugh, CEO of Rad Power Bikes.
“We were needing to step up to the plate,” said Radenbaugh, who as
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