Ubco makes the all-wheel-drive Ubco 2X2, a 145-pound utility electric motorbike offered in Work Bike (off-road) and Adventure Bike (urban) versions. The product is built on an intelligent platform with vehicle and power systems, cloud connectivity and data analysis that enables subscription and fleet-management integrations. Originally designed for farmers, Ubco has expanded into enterprise fleets, gig-economy workers and city riders and works with clients including Domino’s (New Zealand and the U.K.), New Zealand Post, the Defense Force, the Department of Conservation and Pāmu. The company is pushing aggressively into subscription services for fleets, charging about $50–$60 per week ($75–$85 NZD) for enterprise customers and rolling subscriptions out across New Zealand, Australia, the U.K., Europe and the U.S. Ubco expects revenue to climb from $2.1 million in 2020 to $8.4 million by the end of 2021 as it seeks to increase annual recurring revenue through subscriptions. Leadership emphasizes circular-economy design and lifecycle management to extend vehicle life, enable reuse of batteries and reduce carbon impact.

Total raised

$10M

Funding rounds

1

Latest round

Series B

Latest activity

Jun 2021