Tech Company Financing Transactions
Velotric Funding Round
Velotric, based in Carso, scored $7.4 million from Lime Bike, Fosun RZ Capital and Redpoint Ventures.
Transaction Overview
Company Name
Announced On
3/1/2023
Transaction Type
Venture Equity
Amount
$7,400,000
Round
Series A
Investors
Proceeds Purpose
The new round boosts the one-year-old startup's total financing to $12 million. The amount seems paltry compared to the $320 million that more established player Rad Power has raised, taking into account that this is a cash-intensive manufacturing business. But Velotric believes it has the secret sauce for managing cash flow while producing competitive products.
Company Information
Company Status
Private & Independent
Industry
Manufacturing
Mailing Address
24426 S Main St #701
Carso, CA 90745
USA
Carso, CA 90745
USA
Phone
Website
Email Address
Overview
Velotric builds versatile and accessible ebikes that help you discover the #smalladventures all around you. The company believes that the ebike experience should be simpler, more expressive, and make riders feel the exhilaration of the open road without stress or anxiety.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Adam Zhang
Co-Founder
Xiao Xiaotao
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