How Bootstrapped Lectric Outshined Failed VC-Backed E-Bike Startups

Lectric eBikes, located in Phoenix, Arizona, is celebrated for its functional and affordable XP series electric bikes. This year, the company has unveiled three new brands: a rebranding of Juiced Bikes, the formation of Juiced Powersports, and a premium adventure line dubbed Monarc. This approach stands in stark contrast to a recent trend of bankruptcies sweeping through the industry.

As CEO Levi Conlow revealed to TechCrunch, Lectric has poured roughly $10 million into these new initiatives.

“While many are pulling back or searching for funding, we are proactively investing in projects like these,” he remarked. “I don’t think the market is saturated; we experienced our best sales month last month, moving nearly 30,000 bikes. I’m not certain anyone has matched that, even during the peak of COVID.”

Introducing an e-bike brand, let alone three, may appear unconventional at this moment.

In the past two years, numerous e-bike firms have collapsed, shut down, or diminished to be acquired by larger corporations. Rad Power Bikes, a notable electric bike company that raised nearly $330 million in venture capital, exemplifies this trend. Once valued at $1.65 billion, the firm sought Chapter 11 bankruptcy protection in December, with its assets acquired by Life Electric Vehicles Holdings for $13.2 million.

“From my perspective, this has actually created opportunities,” Conlow explained, listing several companies that have exited or closed in the U.S. market. “The current landscape lacks strong competition.”

This contrarian approach arises from a distinctive background. Conlow and co-founder Robby Deziel opted against seeking venture capital, instead choosing to bootstrap their business, which they initiated seven years ago as childhood friends. They later received investment from private equity firm Bertram Capital Management in 2020. What began as a small startup has grown into one of the leading direct-to-consumer e-bike companies in the U.S., having shipped 150,000 units in 2025.

The strategy — bootstrapping, maintaining profitability, allowing better-supported competitors to struggle, and then expanding — offers valuable lessons for founders in various hardware industries. Nonetheless, Conlow underscores the necessity for cautious growth at Lectric. He warns that catering to every demographic could weaken the brand.

“What we’ve realized is that Lectric cannot cater to everyone,” he stated, pointing out its wide-ranging product line, which features folding bikes and electric tricycles. The company sells 90% of its products directly to consumers via its website, attracting between 2 million to 4 million visitors monthly.

The aim is to keep the brands separate to avoid dilution. For instance, displaying a Juiced Bikes model on Lectric’s homepage could distract from Lectric’s leading XP Series, possibly conveying the wrong message to customers.

“Intent is crucial; with a more concentrated approach, you can delve deeply into every market; this enables you to customize customer service, branding, and marketing specific to each product and company,” he clarified.

This technique has been applied to Juiced Bikes, Juiced Powersports — which plans to release its first e-moto in August — and Monarc. Juiced Bikes, acquired by Lectric in 2025, was relaunched last month, while Monarc was established this week as an independent brand based in Minnesota, led by industry veterans Julia Moran and Ryan Callahan.

Every brand operates with its own product engineering, branding, marketing, and customer service teams. Conlow even promotes competition among the brands.

“We strive to ensure that each brand has distinct aesthetics and performance; there should be healthy competition among them,” he noted.

Monarc is emphasizing high-end adventure lifestyle features, coupled with a customer service model that includes a five-year warranty and direct phone support by real personnel. (Conlow stressed that none of their brands will utilize AI for customer support.)

Monarc’s first e-bike, titled the Marker, will be an all-terrain model featuring two LG 48-volt 15Ah batteries — a rare commodity in the e-bike sector — providing 720 watt-hours each and UL 2271 certification. Additionally, this bike will come with a 5-amp fast charger and numerous high-end attributes such as a Bafang motor, Shimano drivetrain, and a 3.5-inch color touchscreen that can connect with accessories like rearview radar and smart helmets.

Although Monarc and the two Juiced brands are small, employing 10 and eight individuals respectively, they are ready for expansion. Lectric itself boasts a workforce of 170. The brands operate autonomously but benefit from Lectric’s supply chain, purchasing power, and backend support.

The outlook for launching new independent brands remains uncertain. Conlow is open to the notion: “We are always exploring and staying watchful.” However, he’s not in a rush. “We have plenty on our agenda, and we aim to concentrate on these ventures.”