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Rad Power Bikes , the Seattle - based vitamin E - wheel startup that has erect more than $ 300 million from investors , go through another round of layoff in July , TechCrunch has exclusively learned . This is the society ’s fifth round since April 2021 , when it cut back 100 staffers .
Rad ’s latest layoffs followa pick a class ago , when the e - bike maker pulled out of Europe and put down off around 40 employees . Rad laid off faculty doubly in 2022 .
The layoffs at the democratic Es - bike startup make out after VanMoof , another venture - backed e - bicycle darling , declared failure last year . The Sturm und Drang in the e - cycle industry has attest that manufacturing and shipping two - bicycler is a hard stage business to get right , particularly if a inauguration is under pressure to scale quickly to provide investors with a issue on investiture .
Rad did not share how many staffers it bring down in July or which squad were affected . Sources familiar with the layoffs separate TechCrunch the cuts mostly hit Rad ’s intersection exploitation teams . accord to LinkedIn , Rad Power employs 394 people .
“ Earlier this calendar month , Rad Power Bikes made the difficult conclusion to reduce our squad ’s size so we can ensure the brand ’s seniority , remain on our mission , and serve our rider community , ” a spokesperson said in an emailed program line . “ We are doing all we can to approach this very hard time with compassionateness and care . We believe in and give care deeply about our vision to make a macrocosm where transportation is vigor - efficient , enjoyable , and approachable to all . We have faced the challenges many businesses have , include rise costs and economical headwinds , and this difficult decision was necessary to ensure the long - condition sustainability of Rad ’s business . ”
A voice for the caller say Rad will continue to provide table service and reenforcement to its client with day-after-day live phone and chat customer service , as well as through more than 1,200 retail and divine service providers throughout North America .
Rad Power motorcycle , known for their affordable blubber tyre east - bicycle , has gone through some shake - ups since its meteorologic rise to popularity that was fueled by the COVID-19 pandemic . In 2022 , the caller ’s founder , Mike Radenbaugh , step down as CEO and into the role of chairman . He was replace by Phil Molyneux , who previously help as president at Sony Electronics and Dyson America .
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discipline : A previous reading of this story tell Rad Power wheel made their bikes in the U.S. They are made in Asia .
