On October 28, 2021, Rad Power Bikes Inc. closed the transaction. The company received $154,000,000 in the transaction led by returning investor Fidelity Management & Research Company LLC. The transaction included participation from returning investors Morgan Stanley Institutional Fund, Inc. - Counterpoint Global Portfolio, a fund managed by Morgan Stanley Investment Management Inc., Durable Capital Partners, LP, TPG The Rise Fund, a fund managed by T. Rowe Price Group, Inc. and Vulcan Capital.

The company has raised $329,000,000 in funding till date.