It’s been a giant begin to the yr for US-based electrical bicycle firms searching for massive investments. The most recent eight-digit funding deal is heading SUPER73’s manner and can assist the corporate construct upon the huge progress their moped-style e-bike gross sales noticed in 2020.
Orange County, California-based SUPER73 landed the $20-million funding from Volition Capital, a Boston-based progress fairness agency.
SUPER73 is without doubt one of the extra seen e-bike manufacturers within the US, and has lengthy prided itself in its lengthy listing of A-list superstar and athlete prospects, along with tens of hundreds of riders it has gained over the corporate’s lower than 5 years of operations. The corporate usually hosts driving occasions around the globe and promotes a robust group vibe amongst its riders, who’ve embraced the model as a life-style product as a lot as a transportation machine.
Initially launched with a profitable Kickstarter marketing campaign, SUPER73 was one of many first firms to embrace the moped-style e-bike with an extended bench seat, open mini-bike body and extra-wide 20″ tires.
The e-bike model noticed huge progress in 2020 along with the rest of the e-bike industry, fueled by a lot of the world searching for socially distant methods to get out of the home and discover their cities on e-bikes.
As SUPER73 co-founder and CEO Legrand Crewse defined:
“We have now at all times recognized that there was one thing particular at SUPER73. It wasn’t nearly making a enjoyable electrical bike, it was about constructing a gateway to limitless journey and cultivating a real group. Volition Capital not solely noticed that very same imaginative and prescient however believed in it. Collectively, we now have an actual alternative to take SUPER73 to the subsequent degree and assist redefine the electrical car trade.”
SUPER73 used 2020 to unveil a number of information fashions, together with the corporate’s first full suspension 2,000W electric bikes known as the R-Series.
The SUPER73 S2 was also unveiled, updating the traditional design that launched the model years earlier than.
Now SUPER73 is sharing how they plan to make use of the brand new windfall to develop the model.
As the corporate defined:
“SUPER73 grew exponentially final yr, however 2021 is the yr when that progress can be was a sustainable new mannequin of enterprise, with a construction that enables us to compete with the largest gamers within the recreation and obtain our dream of turning this small American start-up into a serious participant on the worldwide stage. We all know that we construct a incredible product backed by an incredible group, however we additionally know that now we have areas the place we are able to rise to satisfy your expectations.
With the assistance of Volition and its funding, we will construct upon the muse now we have began and make each course of surrounding your SUPER73 as pleasant because the e-bike driving expertise is. Each division inside SUPER73 is about to get the love and a focus it wants.
The three areas of our enterprise most strained by the fast progress skilled in 2020 have been customer support, manufacturing, and provide chain. As such, these are the areas the place we’ll most closely make investments and give attention to.”
SUPER73 isn’t the one firm to land an enormous funding firstly of 2021.
Rad Power Bikes recently announced its own $125-million investment to assist it proceed increasing operations.
Each SUPER73 and Rad Energy Bikes symbolize a few of the largest gamers within the trade, however smaller e-bike firms are additionally discovering buyers lining up with deep pockets. UK-based FuroSystems announced their own new funding round of £750,000 final week.
As buyers proceed to eye the skyrocketing gross sales seen within the electrical bicycle trade, we absolutely count on to see extra main funding bulletins on the horizon.
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