What is Lectric?
Lectric, operating as Levine Lectronics and Lectric, Inc. following a merger, is an Electrical Manufacturers Representative Company serving Georgia, Alabama, Tennessee, Arkansas, Mississippi, and Florida. The firm specializes in electrical and electronic equipment, catering to a wide spectrum of voltage requirements from high voltage (800 K. Volt) down to logic levels (less than 24 Volts). By integrating with McClellan Sales, Lectric has expanded its product offerings and created powerful synergies within its experienced sales staff, comprising eight outside salesmen and five inside sales people. This consolidation enhances their ability to provide comprehensive solutions for both Medium and Low Voltage applications across their unchanged geographic coverage.
How much funding has Lectric raised?
Lectric has raised a total of $150K across 1 funding round:
Debt
$150K
Debt (2020): $150K with participation from PPP
What's next for Lectric?
The substantial large-scale late-stage funding positions Lectric for significant strategic expansion. This capital injection is expected to fuel further development of their merged product lines and sales capabilities, reinforcing their market position as a key provider of electrical and electronic equipment solutions. The company's focus on design-to-start-up support, combined with an expanded team and enhanced offerings, suggests a trajectory aimed at capturing greater market share and solidifying its role as a leading representative agency in the electrical industry.
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