The goal at UBCO is to accelerate the global transition to electric mobility by designing the world’s toughest utility electric vehicles (UEV), that are approachable, safe, intelligent and affordable.
Since it was established in 2015, UBCO has evolved into a digitally connected UEV platform that supports on and off-road transport and accessories backed by cloud-based software.
Founded in New Zealand, UBCO can now be found in international markets including the US, Australia, Europe and the UK.
After successfully raising ~$13M via a Convertible Note earlier in 2021, UBCO is now launching its $30m USD Series B raise which will support revenue growth to $1B by FY26.
UBCO has made considerable progress accelerating the transition to electric mobility. The 2X2 bikes are loved by customers and have already stacked up over 15 million kilometres worldwide.
COVID-19 accelerated UBCO’s drive to go 100% digital across sales, training, service and customer support, realising significant efficiencies internally, and an enhanced experience for customers.
It also accelerated the underlying expansion of delivery fleets in all of the key markets. During 2020, UBCO engaged with Domino’s in NZ on a subscription basis, and are rolling this out into other applications through a number of pilots. Enterprise applications range across agriculture, freight and postal, last mile delivery, tourism and conservation. One enterprise opportunity alone may represent more bikes than the entire sales history of UBCO.
To execute on the opportunity UBCO have:
UBCO has developed an intelligent platform that is getting smarter every kilometre.
Utilising a proven business model that combines hardware, software and extensions into an easy monthly subscription.
Subscription improves customer experience and increases gross margin.
UBCO launched its first UEV in its home market of New Zealand in 2016. The bike was named the 2X2 for the two hub motors in its front and rear wheels which enabled better traction and more torque in off road conditions.
Initial production runs sold out quickly and UBCO established good credentials and a global following. Along with the sale of UEVs, UBCO has also developed an eco-system of products and services that provide additional lifetime customer value.
By 2017, customers had indicated the desire for a road legal version of the 2X2. UBCO responded to this demand by launching the Dual-Purpose 2X2, built on the same chassis, but designed for road legal compliance within the United States and Europe. In 2020 UBCO launched the 5th generation 2X2, with telemetry connectivity and UBCLOUD, the intelligent platform for fleet management.
UBCO has rapidly developed into a digitally connected UEV platform. Leveraging the benefits of modern electric drive and battery technology, UBCO’s platform includes on and off-road transport (2×2), portable power, accessories, and subscription software. UBCO provides a complete solution, from an individual user to enterprise customers across a wide range of applications.
UBCO has established an international presence with distribution channels in three key geographies: Australasia, the United States and UK/Europe. Each distributor sells to a network of UBCO-approved dealers, alongside UBCO’s direct to customer (D2C) online channel through their website. Enterprise (B2B) sales are generally managed directly by UBCO.
UBCO sits in a large growing market category globally. The rapidly growing concerns regarding vehicular emissions and increasing consumer awareness are driving global demand for electric vehicles. The electric 2- and 4-wheel motorcycle and scooter market size is expected to be worth $48bn USD by 2025.
UBCO has developed a pipeline of Enterprise opportunities. These have been used to create a bottom-up TAM from fleets in various typles of delivery applications and agriculture. This provides visibility to over NZ$2.3bn in Annual Recurring Revenue (ARR).
There are two clear types of customers, end-users (individuals) and business customers (fleet) who are drawn from varied application areas. The Enterprise applications range across agriculture, freight, delivery and last mile, tourism, conservation and defence.
UBCO is the only intelligent EV platform aimed primarily at the utility vehicle market.
UBCO's main competitors are grouped into new entrants in the on and off-road electric vehicle manufacturers (e.g. Niu, Zero, Cake, Surron), and incumbent combustion engine manufacturers (e.g. Honda, Yamaha, Polaris Industries etc).
UBCO’s driving point of difference is the intelligent EV platform which gets smarter with each kilometre travelled.
UBCO has a significant lead on competitors and is raising $30m (USD) to execute on its pathway to $1B revenue.
Please register your investment interest below if you would like to receive further information and gain early access to the offer when it launches.
If you have any questions feel free to get in touch with Simeon Burnett at [email protected]
Snowball Effect is a New Zealand-based online investing marketplace, that enables New Zealand companies to offer shares to members of the public. Snowball Effect was founded in 2012 and launched in August 2014, after being one of the first to acquire an equity crowdfunding license from the New Zealand Financial Markets Authority (FMA). Over NZ$106 million has been raised on the platform.
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