The round, led by Prysm Capital, will fund the company’s expansion beyond pedal-assist electric bikes and commercial cargo quads to autonomous delivery vehicles.
Lectric, which says the U.S. market is ripe for competition and choice, has launched three new brands in the past six months.
PopWheels realized its battery swapping network could be used for more than food delivery workers who need to charge their e-bikes. Now, its planning for an “aggressive rollout” this summer.