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Electric Bikes Growing Choice For Americans Traveling This Summer
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Rad Power Bikes has announced a minority investment of $150 million.
The investment is from Counterpoint Global (Morgan Stanley), 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.
Existing investors Durable Capital Partners LP and Vulcan Capital also participated in the round. With this investment, Rad Power Bikes is aiming to expand its worldwide operations and rider community.
“E-bikes will play an important role in the future of mobility, extending far beyond the traditional bike market,” said Sam Chainani, managing director, Morgan Stanley Counterpoint Global. “Our partnership with Rad Power Bikes is exciting as this innovative company is rapidly changing the way the world moves. Mike Radenbaugh and his team have already proven the economics of convenient, energy-efficient mobility solutions.”