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Rad Power Bikes isn’t just the largest electric bicycle company in North America, it’s also the most funded. Rad announced a massive new funding round today, adding another $154 million to its war chest as the company continues its mission of bringing affordably priced electric bicycles to the masses.

Part of that huge funding round has already been earmarked to invest in North American and European production.

The new funding round is Rad’s second this year, following on the heels of the previously record-breaking $150 million investment secured in February.

Now Rad Power Bikes’ existing investors have decided to double down, effectively throwing more money at the leading electric bicycle company.

The funding round announced today was led by Fidelity Management & Research Company, with investments from funds and accounts advised by T. Rowe Price Associates, Inc., Counterpoint Global (Morgan Stanley), Vulcan Capital, Durable Capital Partners LP, and The Rise Fund, TPG’s multi-sector global impact investing strategy.

While Rad announced that the funding will go toward the usual suspects of product development and further fleshing out its services such as RadMobile at-home assembly/repair service, the most interesting new investment may be adding production outside of Asia.

Radcity 5 plus review

The company announced that as part of its efforts to diversify its manufacturing and supply chains, it will be investing in North American and European production.

I pushed Rad Power Bikes founder and CEO Mike Radenbaugh for more details on exactly what that means, but he explained that he wasn’t able to share full details yet on precisely what components could see production in North America or Europe, or exactly where that production would be handled.

But it certainly fits with Rad’s strategy of finding creative solutions to solve the extreme supply chain difficulties being experienced throughout the electric bicycle industry.

Not only has Rad Power Bikes already invested in redundant production in several countries across Asia, but the company has purchased its own supply of shipping containers and even its own shipping vessel to keep its e-bikes flowing into the United States.

With over 350,000 riders so far, the Seattle-based e-bike company leads North America in sales and ridership. Strategic investments in sustaining and growing that edge have been an important part of keeping e-bikes available and maintaining affordable prices during unprecedented uncertainty in the e-bike industry.

It’s all part of the Rad’s plan to demonstrate that it’s not just an e-bike company, but an entire transportation solution company, Mike explained to me over the phone. And extreme growth has been central to that plan. “We’ve grown to over 620 people now, and we even have 100 open roles we’re currently filling. We’ll more than double our size this year alone.”

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It’s not just manpower that has grown, but also the company’s physical footprint. Rad has led in direct-to-consumer sales via its website, but has steadily invested in growing its retail space too. Mike explained that between its RadMobile service and physical retail stores, Rad Power Bikes would be tripling its physical footprint by the end of 2022.

All of that investment in growing its manpower and retail presence hasn’t slowed innovation at Rad, with the company launching three new models of e-bikes during the COVID-19 pandemic alone.

The $999 RadMission electric bike became an instant success when it was launched last summer. Rad then followed up with two more premium e-bike launches this summer with the $1,999 RadRover 6 Plus and the $1,799 RadCity 5 Plus.

And that pace of innovation looks set to continue. “We’re not going to slow down on product development,” Mike explained. “We’re working on a very substantial multi-year product road map. Don’t think we’re going to slow down product innovation – nothing could be further from the truth.”

Electrek’s Take

Dadgum! That’s some serious funding. Add that $154 million to the $150 million earlier this year and $25 million in 2020, and you’re looking at $325 million in funding in just 20 months. Rad is a privately held company, and so we don’t have a good look at their finances, but it’s not a giant leap to suppose we’re looking at an electric bicycle company worth over a billion dollars.

That highlights two things. one, investors see the massive growth of e-bike sales and can tell that current modal shifts in transportation mean that such is growth is certainly sustainable, and two, Rad Power Bikes’ investors feels bullish enough in Rad to double down on their recent investments. That’s some serious industry confidence in e-bikes in general and in Rad specifically.

I am fascinated to see how the company uses all of this newfound cash to bring us even more e-bikes and accessories as well as an even better customer experience.

Rad’s founder and CEO Mike Radenbaugh is just as much of an e-bike fanatic as we are here at Electrek, probably even more so. It was obvious that he was pained by not being able to give me any more specific details about what they’re working on in Rad’s development center. But from the little I’ve seen behind the curtain and the little more Radenbaugh was allowed by Rad’s hardworking and vigilant marketing team to let slip out, we’re going to see some exciting stuff coming out of Seattle.


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‘Posh boys’ playing gangsters: Eddie Marsan on TV and film industry’s obsession with upper-class actors

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'Posh boys' playing gangsters: Eddie Marsan on TV and film industry’s obsession with upper-class actors

Over the last two decades, Eddie Marsan has established himself as one of Britain’s most versatile and acclaimed character actors. From major blockbusters like the Sherlock Holmes films and Mission: Impossible III, to his roles on the TV series Ray Donovan, and more recently the sci-fi drama Supacell.

As a performer, he is a skilled observer. And one thing he’s come to notice a lot over the years is how few of his castmates tend to share his working-class roots.

“If you want to be an actor in this country, and you come from a disadvantaged background, you have to be exceptional to have a hope of a career,” he says. “If you come from a privileged background, you can be mediocre.”

Speaking after being named one of the new vice presidents of drama school Mountview, and meeting students at the establishment where he too first trained, Marsan is keen to stress why it’s so necessary to support young actors who can’t fund their careers.

Eddie Marsan at Mountview. Pic: Steve Gregson
Image:
Eddie Marsan at Mountview. Pic: Steve Gregson


“I came here when I was in my 20s… I was a bit lost, to be honest… I was serving an apprenticeship as a printer when Mountview offered me a place,” he says.

“There were no kinds of grants then, so for the first year an East End bookmaker paid my fees, then my mum and him got together and paid the second year, then Mountview gave me a scholarship for the third year, so I owe them everything.

“I didn’t earn a living as an actor for like six, seven yearsyears ago, actors could sign on and basically go on the dole while doing playsnow, in order to become an actor, you have to have the bank of mummy and daddy to bankroll you for those seven or eight years when you’re not going to earn a living.”

Marson and Dame Elaine Paige are both taking on ambassadorial roles to mark Mountview’s 80th anniversary, joining Dame Judi Dench, who has been president of the school since 2006.

“The parties are fantastic,” he jokes. “The two dames, they get so half-cut, honestly, you have to get an Uber to get them home!”

But he’s rather more serious about TV and film’s “fashion for posh boys”.

'If you come from a privileged background you can be mediocre' in the TV and film industry, says Marsan. Pic: Steve Gregson
Image:
‘If you come from a privileged background you can be mediocre’ in the TV and film industry, says Marsan. Pic: Steve Gregson

“When I went to America and I did 21 Grams and Vera Drake. I remember thinking, ‘great I’m going to have a career now,’ but I wasn’t the idea of what Britain was selling of itself.

“Coming back from Hollywood, a publicist said to me ‘when we get to London and do publicity for the film 21 Grams we’re going to come to you’… but no one was interested… I remember coming to Waterloo station and looking up and seeing all these posh actors selling Burberry coats and posters, and they hadn’t done anything compared to what I’d done, and yet they were the image that we were pushing as a country.”

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Beckham receives knighthood at Windsor Castle

A 2024 Creative Industries, Policy, and Evidence Centre report found 8% of British actors come from working class backgrounds, compared to 20% in the 70s and 80s.

“Even a gangster movie now, 40 years ago you would have something like The Long Good Friday or Get Carter with people like Michael Caine or Bob Hoskins who were real working-class actors playing those parts, now you have posh boys playing working-class characters.”

Within the last five or six years, he says there has at least been “more of an effort to include people of colour”.

Pic: Steve Gregson
Image:
Pic: Steve Gregson

‘They’re scared of a level-playing field’

“What I find really interesting is, I’ve been an actor for 34 years, and I remember for the first 20 years going on a set and very rarely within the crew and within the cast would you see a black face, very rarely.

“One of the saving graces really are things now like Top Boy and Supacell, where you have members of the black community making dramas about their communities, that can’t be co-opted by the middle classes.”

“People like Laurence Fox complaining that it’s unfair, I never heard them complain when you never saw a black face, never once did they say anything. Now that people are trying to address it, they think it’s unfair…because they’re scared of a level playing field.”

Now, more than ever, Marsan says he feels compelled to point out what needs to change within the industry he works in.

“Look, social media is destroying cultural discourse. It’s making people become very binary… acting and drama is an exercise in empathy and if there’s one thing that we need more of at the moment it’s that.”

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Joey Barton’s posts ’caused me sleepless nights’, says Jeremy Vine

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Joey Barton's posts 'caused me sleepless nights', says Jeremy Vine

Broadcaster Jeremy Vine has told a jury he felt “wickedly torn down for no reason” by ex-footballer Joey Barton, whose online posts led him to take civil action.

The TV and radio presenter said he intervened to support football commentators Lucy Ward and Eni Aluko after Barton shared an image online of their faces superimposed on to a photograph of notorious serial killers Fred and Rose West.

After a televised FA Cup match between Crystal Palace and Everton in January 2024, the former Manchester City and Newcastle United footballer likened the sports broadcasters to the “Fred and Rose West of commentary”.

Responding to the comment, Vine said on X: “What’s going on with @Joey7Barton? I just glanced at the Rose West thing… genuinely, is it possible we are dealing with a brain injury here?”

Joey Barton arrives at Liverpool Crown Court. Pic: PA
Image:
Joey Barton arrives at Liverpool Crown Court. Pic: PA

‘I was quite shocked’

Giving evidence on Wednesday, Vine said: “I was quite shocked by what Mr Barton had said about two very respected commentators in Lucy Ward and Eni Aluko.

“I thought it was very vicious to impose them on the images of two mass murderers of children, and I was looking for an explanation.

“I said ‘are we dealing with a brain injury here’ as a way of underlining my own feelings that he had crossed the line on that tweet.”

Barton, 43, is currently standing trial at Liverpool Crown Court, accused of posting grossly offensive messages on X aimed at the three broadcasters, allegedly with the intent to cause distress or anxiety.

The court heard that Mr Barton replied to Vine’s tweet with a post referring to him as “you big bike nonce”.

The defendant, who has 2.7 million followers on X, also made references to convicted child sex offender Jeffrey Epstein.

Jeremy Vine. Pic: PA
Image:
Jeremy Vine. Pic: PA

‘This now gets really serious’

Vine told the prosecutor he felt “very alarmed” that Mr Barton was choosing “this word ‘nonce’ to throw around” and that “this was now escalating”.

“This now gets really serious. He is accusing me of being a paedophile,” he said.

“These are disgusting actions. It’s a despicable thing to say.

“It gravely upset me, and I had a sleepless night that night.”

As more posts followed, Vine “began to feel scared”.

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Vine said: “I realised I had to take some action, but I was not sure what to do. I realised the quickest remedy would be some sort of civil action.”

Civil proceedings were initiated in March 2024. A week later, a post from Mr Barton’s X account stated: “If anyone has any information about Jeremy Vine – pictures, screenshots, videos, or messages that could help us in the case – please send them to me using the hashtag #bikenonce.”

Jurors heard that in June 2024, Barton agreed to pay Mr Vine £75,000 in damages for defamation and harassment, along with his legal expenses, as the two parties reached a settlement in the civil case.

In a separate agreement, Barton also paid Vine an additional £35,000 in damages and legal costs relating to similar issues.

The court was told that Mr Barton issued a public apology on his X account in June 2024, admitting that he had made a “very serious allegation” on social media.

He denies the offences said to have been committed between January and March 2024.

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Helen Garner’s ‘unsparing’ diary collection becomes first to win prestigious Baillie Gifford non-fiction prize

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Helen Garner's 'unsparing' diary collection becomes first to win prestigious Baillie Gifford non-fiction prize

A writer, whose “candid” and “unsparing” diaries have become the first to ever win the prestigious Baillie Gifford Prize for Non-Fiction. has told Sky News she is “delighted” to see the literary format recognised rather than dismissed.

Helen Garner, an acclaimed Australian author and diarist whose celebrity fans include singer Dua Lipa and fellow writer David Nicholls, said that diaries, often written by women, tended to be given “short shrift” in the literary industry.

She has now won the Baillie Gifford award for How To End A Story, a collection which charts 20 years of her life, from publishing her debut novel while raising a young daughter in the 1970s to the disintegration of her marriage in the 1990s.

Garner accepted the award via video link from Australia. Pic: Baillie Gifford Prize
Image:
Garner accepted the award via video link from Australia. Pic: Baillie Gifford Prize

Judges hailed her as a “brilliant observer and listener” and described the diaries as a “recklessly candid, unsparing, occasionally eye-popping account of the implosion of a marriage”.

Speaking to Sky News’ Sophy Ridge and Wilfred Frost on the new Mornings with Ridge and Frost programme, Garner, 82, said: “My main reason to be delighted is that I think diaries have been given short shrift in literature. I think they are literature.

“Because they were often written by women, they used to be dismissed as just sort of verbal sludge that people… sort of lazily wrote down, but in actual fact to keep a decent diary involves as much hard work as writing a full-on book – in my experience, anyway. So I’m really glad that it’s been recognised.”

Garner was named winner of the £50,000 prize at a ceremony in London on Tuesday, and accepted her award via video link from Melbourne, Australia.

Journalist Robbie Millen, who chaired the prize jury, said her “addictive” book was the unanimous choice of the six judges.

“Garner takes the diary form, mixing the intimate, the intellectual, and the everyday, to new heights,” he said, comparing her to Virginia Woolf in the canon of great literary diarists. “There are places it’s toe-curlingly embarrassing. She puts it all out there.”

How To End A Story was the judge's unanimous choice. Pic: Baillie Gifford Prize
Image:
How To End A Story was the judge’s unanimous choice. Pic: Baillie Gifford Prize

‘The mess my life became is not unique’

Garner, who has published novels, short stories, screenplays and true crime books, told Sky News she has been surprised to hear from so many readers who have related to her words and most intimate thoughts.

“People have said to me, ‘this could be my marriage’,” she said. “I found that rather shocking because it’s quite a painful story of a marriage collapsing, starting off with love, but then developing over the years into something painful and destructive.

“I’ve been glad to find that I’m not unique in that way, that the mess that I made in my life, the mess that my life became, it’s not unique. In fact, it’s archetypal. It’s something that’s happened to gazillions of people in the history of the world.”

Asked by Ridge if the book would have been a “difficult read” for her ex-husband, Garner replied: “I don’t know, I haven’t spoken to him for approximately 25 years. We won’t be speaking to each other again, I imagine. And if you’ve read the diary, you’ll see why.”

The other shortlisted titles

Jason Burke’s The Revolutionists: The Story Of The Extremists Who Hijacked The 1970s

Richard Holmes’s The Boundless Deep: Young Tennyson, Science And The Crisis Of Belief

Justin Marozzi’s Captives And Companions: A History Of Slavery And The Slave Trade In The Islamic World

Adam Weymouth’s Lone Wolf: Walking The Faultlines Of Europe

Frances Wilson’s Electric Spark: The Enigma Of Muriel Spark

How To End A Story is the first set of diaries to win the Baillie Gifford Prize, which was founded in 1999 and recognises English-language books in current affairs, history, politics, science, sport, travel, biography, autobiography and the arts.

It was selected from more than 350 books published between 1 November 2024 and 31 October 2025.

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