Velotric just raised about $28 million, and part of it is headed for exoskeletons and golf carts. Nothing in the announcement mentions the e-bike lineup, the warranty or customer support.
The Shenzhen-based brand said on October 16, 2026 that it closed a 200 million yuan Series C. China Life Equity Investment led the round. Amber Capital and existing shareholders joined, and Lightsource Capital advised. The round was priced in yuan, so dollar totals move with exchange rates, and some trackers list it as $29.9 million. The company figures below come from Pedaily’s report on the round.
The dealer count is the number to check
Velotric sells online and through local shops. It now reports more than 1,600 independent dealers with no dealer losses. An earlier funding round cited about 1,200, so the network has added more than 400 shops. The company says they reach 90% of middle-class communities within 50 miles in the US.
A shop that stocks Velotric may still decline repairs on a bike you ordered direct. Call and ask before you buy.
| Company-reported figure | Number |
|---|---|
| E-bikes sold in North America | 250,000+ |
| Independent dealers | 1,600+ |
| E-bike return rate since 2025 | 0.5% |
| Average retail price | About $1,800 |
A 0.5% return rate sounds low, and I have no industry benchmark to hold it against. Treat it as the company’s number. Velotric also places itself among the top North American e-bike sellers by volume as of the third quarter of 2026. That ranking is its own.
The company says its motors, controllers and battery management electronics are in-house designs. Whether that helps owners depends on how easily parts and software support reach a local shop.
Where the money is going
Velotric says the funds cover research and development, new product categories and building out its global organization. Those categories are a consumer exoskeleton for light hiking and a low-speed golf cart built on NEV technology. The cart would sit between budget carts around $10,000 and premium ones above $20,000.
The pairing makes sense on paper. Velotric aims at riders 40 and older who want low-impact recreation, and its bikes lean on ComfortMax suspension and turn signals built into the brake levers. An exoskeleton and a cart chase the same customer. Founder Adam Zhang previously co-founded Lime.
No names, prices or ship dates exist for either product, and neither is on sale.
The earlier round’s stated plans were more bike-focused: filling out recreation, adventure, cargo and trike lines, and spreading production across several locations to cut costs. The new round’s list doesn’t mention e-bikes by name.
How I’d weigh it
The biggest fear with a direct-to-consumer brand is that it folds and takes your support with it. Velotric says it has been profitable since 2024 and has sold more than 100,000 units in 2025 alone. Lightsource’s Lauren Wang said weaker e-bike brands are being weeded out faster. A funded brand with a large shop network looks safer than most of the field.
The side projects are what I’d watch. New categories compete with bikes for engineering time and management attention, and Velotric hasn’t said how it splits the money.
On price, nothing in the announcement suggests a cut. If you’re waiting for one, I wouldn’t count on it. Buy against the quote you have today (prices as of October 2026).
If you already own a Velotric, nothing announced changes your bike. Keep a copy of the warranty terms from your purchase date.
Before you order
- Read Velotric’s warranty page and save a copy with your receipt. For any brand, a checklist for e-bike warranties helps you compare terms.
- Find the nearest Velotric dealer and ask whether it services bikes bought online.
- Confirm the e-bike class and the battery type on any model you like. Local rules and replacement costs depend on both.
- Cross-shopping? Our Aventon Level 2 commuter review covers another popular commuter e-bike to compare against.
Still unannounced: any change to warranty or support, and how much of the round goes to e-bike development.
Photo: More funding for Urban Connections means more opportunities to get kids outdoors (20210907 by usfs_Eastern_Region, Public domain, via Wikimedia Commons. Cropped.
