Motorcycle

Electric bike startup UBCO raises $ 10 million

With a modest plan to become the “number one utility” Electrical New Zealand-based electric bike company UBCO recently announced the acquisition of $ 10 million (USD) to fund expansion and development.

Huge funding was provided by investment firms Seven Peak Ventures, Nuance Capital, GD1, tech firm TPK Holdings, and Angel Investment Group Snowball Effects and Enterprise Angels. UBCO states that funding will be directed towards global team growth, faster R & D and accelerated market growth. We also plan to invest resources in stand-alone power supplies and future four-wheel off-road vehicles.

UBCO’s flagship car All-wheel drive 2X2 motorcycle.. 2X2 is practical in nature and appearance and is used in everything from agriculture to food delivery. By choosing a 2.1kWh or 3.1kWh lithium-ion battery, you have two options, ADV and WRK (assuming you can guess the general properties of each). Prices start at NZ $ 7,499.

The momentum seems to be on the side of UBCO. The company has entered a strong 2020, including expansion in both new and existing markets, as well as the introduction of subscription services that replace traditional ownership with rental fees. UBCO states that because it is responsible for ongoing vehicle maintenance, this service will reduce carbon dioxide emissions and extend the life of the vehicle. Enterprise subscription service versions are currently available in New Zealand, Australia, the United Kingdom, Europe, and the United States.

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“We have reached a milestone in our growth journey. These strategic global investors, including technology leadership, production expertise and international ties, bring to our business in this phase. I’m particularly excited about things, “said co-founder and CEO. Timothy Alan (not Toolman). “We are excited to continue to grow our business rapidly globally, and the expertise and capabilities of these new investors will help us achieve our vision.”

https://www./news/516469/ubco-raises-10-million/?utm_source=RSS&utm_medium=referral&utm_campaign=RSS-all-news Electric bike startup UBCO raises $ 10 million

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