SUPER73® Raises $20 Million in Funding From Volition Capital
849 days ago
IRVINE, CA | LEVA-EU member SUPER73®, an American electric vehicle brand, based out of Orange County, California, recently announced the close of a $20-million investment from Volition Capital, a Boston-based growth equity firm.
Founded in 2016 by LeGrand Crewse, Michael Cannavo, and Aaron P. Wong, SUPER73® produces two-wheeled electric vehicles with a mission to fuse motorcycle heritage and youth culture. It has quickly grown into one of the most recognizable electric vehicle brands in the world, with a loyal and passionate customer base, which includes many A-list celebrities and professional athletes.
“We have always known that there was something special at SUPER73. It wasn’t just about creating a fun electric bike, it was about building a gateway to unlimited adventure and cultivating a true community. Volition Capital not only saw that same vision but believed in it. Together, we now have a real opportunity to take SUPER73 to the next level and help redefine the electric vehicle industry.” – Legrand Crewse, CEO of SUPER73 explains.
After an impressive launch on Kickstarter, SUPER73 saw fast-paced growth, not only because its handsome, minimalistic e-bikes looked like nothing else at the time, but also because the company bucked the norms of the traditional electric bicycle industry. SUPER73 refused to become one of the many stale e-bike companies that exist solely to produce mass-market vehicles, and instead became a content-driven lifestyle brand that inspires adventure and creates community.
The company’s desire to be different is key to its success. In 2017, SUPER73 went viral after redesigning its first-generation e-bike to resemble a pair of Star Wars speeder bikes. These were ridden in costume through downtown Manhattan; the video has subsequently been viewed more than 10 million times on YouTube. SUPER73 continued to produce noteworthy hits including an appearance at New York Fashion Week, an international art exhibition with contemporary artist Tom Sachs, and a custom-built, 24-karat gold e-bike for Post Malone.
As the company continued to produce remarkable viral content, its popularity snowballed, and soon SUPER73 attracted the attention of big-name celebrities, athletes, and performers, including Jack Black, Will Smith, and Madonna. What’s more, the brand earned their support without paid promotion or endorsement.
For the moment, there are tens of thousands of SUPER73 riders and enthusiasts across more than 20 countries. The brand’s moto-inspired culture has created a new generation of “bikers,” who not only self-organize into regional “SuperSquad®” rider clubs but have also embraced the custom modification subculture. All over the world, fans of SUPER73 share their custom creations on social media and have helped grow the “SuperSquad” community faster than ever. SUPER73 has more than 430,000 followers across its content channels.
The brand continues to push the boundaries of innovation by frequently producing high-profile collaborations with unique partners, including legendary French soccer club Paris Saint-Germain, Japanese streetwear brand NEIGHBORHOOD, and famed motorcycle designer Roland Sands. Mold-breaking projects like these have gained SUPER73 coverage in major publications such as Time Magazine, ESPN, Rolling Stone, GQ, Car & Driver, Men’s Journal, Motor Trend, Hypebeast and many more.
It’s been less than five years since SUPER73 came to life, but the company employs more than 75 people on two continents; in 2020 SUPER73 opened its first European headquarters in Amsterdam. And with the demand for SUPER73 e-bikes in Europe already outpacing the remarkable demand for its products in the U.S., there is no doubt this young company will see even more success with the support of Volition Capital and its $20-million growth investment.
“Super73 has all of the ingredients to become a great consumer brand – fanaticalcustomers, insatiable demand for its products, and a distinctive design philosophy,” said Larry Cheng, Managing Partner, Volition Capital. “It is one of the fastest growingcompanies we’ve ever invested in and are poised to build a great new American brand as it leads the e-bike market for years to come.”