What is Lectric?
Lectric operates as an Electrical Manufacturers Representative Company, serving Georgia, Alabama, Tennessee, Arkansas, Mississippi, and Florida. The company specializes in selling electrical and electronic equipment across a wide voltage spectrum, from high voltage (800 K. Volt) to logic levels (less than 24 Volts). Lectric collaborates with prominent electrical distributors catering to global markets. Following a merger with Levine Lectronics and McClellan Sales, the company now operates under the Levine Lectronics and Lectric, Inc. name, enhancing its capabilities in Medium and Low Voltage applications with a combined team of eight outside salesmen and five inside sales people.
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
Key Investors in Lectric
PPP
Public-Private Partnership
What's next for Lectric?
The substantial capital infusion, particularly the recent strategic investment, positions Lectric for continued expansion and enhanced service delivery. As a company in a large-scale, late-stage funding phase, Lectric is poised to leverage its expanded product offerings and experienced sales force to further solidify its market position. The focus will likely be on deepening relationships with distributors and clients, potentially exploring new technological integrations, and optimizing its operational efficiencies to meet the evolving demands of the electrical and electronic equipment market.
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