Founded in August 2021 as Shenzhen Zhelun Technology, Urtopia builds mid-to-high-end smart electric-assist bicycles sold in overseas markets and through more than 1,000 U.S. offline stores. The company gained early traction by raising over $3 million on Indiegogo in 2021 and later acquired U.S. e-bike brand Pedego to deepen its U.S. presence. Urtopia’s models average above $1,599 and annual unit sales reach into the tens of thousands, and the firm emphasizes in-house development of its three-electric systems, including the 2025 launch of the Quark DM 1.2 mid-drive motor. Its products incorporate integrated smart capabilities—such as 4G, GPS, Bluetooth, speakers, and onboard AI features—and the company positions its technology stack as reusable for adjacent products. Management plans to expand globally, scale organization and R&D, and introduce a consumer exoskeleton product in the second half of the year as part of a strategic push into broader “outdoor embodied intelligence.” CEO Zhang Bo has an academic background in precision instruments and semiconductor materials and prior cross-border e-commerce and brand expansion experience.

Total raised

$29M

Funding rounds

2

Latest round

Series B

Latest activity

Jul 2026