Velotric makes premium electric bicycles for commutes and off-road use sold for under $2,000, and it develops core components in-house including its motor and battery management system plus a booster algorithm. The company says its models deliver roughly 50% longer range than comparable products and half of its 74 employees work in R&D. Management touts faster supply-chain cycles (85 days from order to ship versus a typical 150–180 days), direct control of core components and favorable supplier payment terms to conserve cash. Velotric sells primarily direct-to-consumer while expanding ties with independent bike dealers; retail partners grew from 21 to 144 between November 2022 and February 2023 and the company expects its bikes in more than 600 U.S. stores by 2023. On the financial side, Velotric booked $15 million in revenue from May through December last year and sold over 10,000 units; its customer base is 38% female and about 60% of buyers are aged 35–54.

Total raised

$7M

Funding rounds

1

Latest round

Series A

Latest activity

Mar 2023