This e-bike brand by Lime and Didi vets pedals into the US with $12M raised

The e-bike market in America is getting a brave new player. Off the back of its $7.4 million Series A funding close, Velotric announced this week that it will be doubling down on U.S. expansion with its privately-owned e-bikes.
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.
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