Electric energy bike startup Ubco raises $10 million to fund its international growth
Ubco, the New Zealand-based electrical energy bike start-up, has actually raised $10 million to money an international expansion focused on the U.S. market and scale up its industrial subscription service organization. Ubco’s hero product, the Ubco 2X2, is an all-wheel drive electric motorbike that looks like a motorcycle but flights like a moped. What began […] Ubco’s hero product, the Ubco 2X2, is an all-wheel drive electric motorcycle that looks like a dirt bike but flights like a moped. While direct customer sales make up for many of Ubco’s profits at present, the company is pushing strongly into enterprise, and more specifically, subscription services. Ubco anticipates profits to climb from $2.1 million in 2020 to $8.4 million by the end of 2021 as it presses to increase its yearly repeating profits through subscriptions. Ubco’s subscription design, which costs about $50 to $60 per week ($75 to $85 NZD) for fleet business consumers, is being rolled out in New Zealand, Australia, the U.K., Europe and the U.S. this year and into 202. Ubco’s hero product, the Ubco 2X2, is an all-wheel drive electrical motorcycle that looks like a dirt bike however trips like a moped….
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