Bootstrapped Lectric expands portfolio with $10m investment as VC-backed rivals falter
CEO Levi Conlow argues the U.S. market lacks worthy competition, citing record sales and a strategic pivot to independent brand units that leverage shared supply chains while rejecting AI in customer service.
Lectric eBikes, a Phoenix-based manufacturer that has deliberately eschewed venture capital funding, has announced a significant expansion of its portfolio with a $10 million investment across three new brands. The move stands in stark contrast to the recent wave of insolvencies affecting well-funded competitors in the electric bicycle sector, including the high-profile collapse of Rad Power Bikes.
The expansion includes the relaunch of Juiced Bikes, a new Juiced Powersports division, and Monarc, a premium adventure brand spun out from an internal project. While the new entities operate with separate product engineering, branding, and marketing teams, they leverage Lectric’s established supply chain and purchasing power to maintain operational efficiency.
Lectric Chief Executive Levi Conlow stated that the company does not believe the U.S. e-bike market is saturated. He argued that recent industry collapses have removed worthy competition, creating an opportunity for disciplined operators. Conlow highlighted that Lectric recorded its largest sales month in company history last month, moving nearly 30,000 units, a figure he noted rivals peak performance during the height of the pandemic.
The strategic approach reflects a contrarian business model. Founded seven years ago by Conlow and co-founder Robby Deziel, the company bootstrapped its operations before taking an investment from private equity firm Bertram Capital Management in 2020. This strategy allowed Lectric to remain profitable and avoid the dilution risks associated with aggressive venture capital scaling, enabling it to ship 150,000 units in 2025.
Each new brand is designed to target specific verticals without cannibalising the core Lectric brand, which sells 90 per cent of its products directly to consumers. Monarc, based in Minnesota and led by industry veterans Julia Moran and Ryan Callahan, will launch its first product, the Marker all-terrain trail e-bike, in July. The bike features dual LG 48-volt batteries and a Bafang motor. Juiced Powersports is scheduled to ship its first e-moto in August.
Conlow emphasised that the brands will maintain distinct identities and even compete internally to ensure quality. Notably, the company has committed to a human-centric customer service model, explicitly stating that none of its brands will use artificial intelligence for support, opting instead for phone assistance with human agents.
