Rad Power Bikes raises $150 million to grow its electric bike empire
Photo by Amelia Holowaty Krales / The Verge
Rad Power Bikes just announced a $150 million investment to expand its retail footprint and improve its maintenance and repair services. It’s one of the largest investments in an e-bike company to date and reflects the growing demand for electric-powered transportation.
Investors in this round include Morgan Stanley’s mutual fund, Counterpoint Global; Fidelity Management and Research Company; The Rise Fund, the global impact investing platform managed by TPG; and funds and accounts advised by T. Rowe Price Associates, as well as existing investors like Durable Capital Partners LP and Vulcan Capital.
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