Archmage of ProcrastinationEvery VC-backed e-bike company went bust. Bootstrapped Lectric just had its biggest
month ever.
"venture-backed e-bike companies that collapsed shared a pattern: massive fundraising, aggressive scaling fuelled by pandemic-era demand, and a post-pandemic correction that left them with too many bikes, too much staff, and too little margin.
Every VC-backed e-bike company went bust. Bootstrapped Lectric just had its biggest month ever.
The e-bike industry spent the past two years burying its darlings. VanMoof, the Dutch startup that raised over €200 million, went bankrupt in July 2023. Rad Power Bikes, the Seattle company that raised $330 million and was once valued at $1.65 billion, filed for Chapter 11 in December 2025. Its assets were sold for $13.2 million. Lectric eBikes […]