UBCO is an EA Fund 2 portfolio company and has received strong support from Enterprise Angels Members since our initial investment in 2016. UBCO was founded on the idea of a Utility Electric Vehicle (UEV) that would transform the way people ride, work and play. With its lightweight frame and powerful, near silent motors, the Ubco 2×2 gives you complete control for all your off-road adventures. The dual electric drive is smooth, ultra-quiet and low maintenance; it can go through trenches, up hills, and down bush tracks without a second thought. Owning any terrain where rubber meets dirt, the Ubco 2×2 gives you the power to go. The 40Ah Lithium-Ion battery not only fuels the bike; it powers all your tools from your phone to your drill (at the same time).
UBCO has rapidly developed into a digitally connected UEV platform. UBCO’s platform includes on and off-road transport (2×2), portable power, accessories, and subscription software. It provides a complete solution, from an individual user to a fleet manager across a wide range of applications.
New Zealand Defense Force confirmed UBCO’s entry into a Defense Force Programme in 2020 with an $85,000 order for vehicles, batteries, and accessories. This will see the 2X2 Utility Bike enter military service across Army, Navy and Airforce for a wide range of uses. Approval post this trial will also mean entry into the NATO database. UBCO is also working with Domino’s Pizza – check out this article.
In June 2021 Enterprise Angels investors contributed to UBCO raising $10m USD which will be used to grow and resource their global team and to fast-track R&D and market development.
This $10m USD funding comes off the back of a strong year for UBCO, including expansion across new and existing markets and the introduction of its subscription service.