As VC-backed e-bike startups went bankrupt, bootstrapped Lectric grew

Key points

• Lectric eBikes, a Phoenix, Arizona-based company known for its practical and affordable XP series electric bikes, has launched three new brands so far this year — a Juiced Bikes relaunch, a new Juiced Powersports brand, and now a premium adventure brand called Monarc — an expansion strategy that runs counter to the wave of bankruptcies that have plagued the sector.
• Together, Lectric has put about $10 million toward these initiatives, CEO Levi Conlow told TechCrunch.
• “Others might be pulling back, or raising money, we’re actually deploying and investing into initiatives like this,” he said.
• “I actually don’t think the market is saturated right now;
• Lectric last month had its biggest sales month in our company’s existence and we sold almost 30,000 bikes.