This is your chance to invest in a Kiwi company changing the way people work and play outdoors globally. UBCO was founded on the idea of a Utility Electric Vehicle (UEV) that would transform the way people ride, work and play.
Since it was established in 2015, UBCO has evolved rapidly into a digitally connected UEV platform including on and off road transport (2×2), portable power, accessories, and cloud-based software. Founded in New Zealand, UBCO can now be found in international markets including the United States and Australia.
During 2019, UBCO raised $2.25m through Snowball Effect and a further $3.26m from GD1, a NZ VC fund, bringing the total capital raised to over $5.6m.
UBCO has accelerated its growth plans for the US market, brought forward its planned release of a 4×4, and added a new product to their range – the FRX1 Freeride Bike. To ensure that the company is well funded to execute on these accelerated plans the UBCO board has decided to raise a further $2m.
Highlights since raising through Snowball Effect in early 2019:
- Exceeded F19 budget revenue of $2.7m by $300k
- Is acquiring its UBCO USA distribution business in exchange for shares in UBCO NZ
- Pre-sold most of its production so far this year
- Launched the new FRX1 Freeride Trailbike at the USA AIMExpo
- Launched its 5th Generation 2×2 Platform including:
- The 2x2WK Work Bike, a purely off-road work bike stripped down for Agricultural and Recreational use
- The 2x2ADV Adventure Bike for use on and off road
- The introduction of telematics for all incoming vehicles
- Launched the KXH Portable Power Supply for use in and outside of the vehicle
- Is taking pre-orders for these products with first production targeted for May 2020
- Completed Heads of Agreement and seed funding in the US for the creation of UBCO Journeys, a new business targeting the adventure tourism sector
UBCO launched its first UEV in its home market of New Zealand in 2016. The bike was named the 2×2 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. These include Portable Power, Accessories, and Software as a Service (SaaS) products.
By 2017, customers had indicated the desire for a road legal version of the 2×2. UBCO responded to this demand by launching the Dual-Purpose 2×2, built on the same chassis, but designed for road legal compliance within the United States and Europe.
UBCO has driven a contract manufacturing model, with all components (i.e. batteries, drives, frames) manufactured by specialised companies due to the different plant equipment, skills, and experience involved. UBCO has a global supply chain, with key parts coming from the United States, New Zealand, United Kingdom, Taiwan and China.
UBCO currently sells products through distributors in two geographies: Australasia and the United States. Each distributor sells to a network of UBCO-approved dealers. To date there are over 120 dealers selling UBCO 2x2s and products. Within 5 years UBCO plans to grow its global presence, resulting in three geographical territories – North America (United States and Canada), Europe (EU, UK, Norway and Switzerland) and Australasia (Australia and New Zealand). A European Distributor will be appointed in 2020 once the 5th generation 2×2 is available for EU certification.
A cornerstone of UBCO’s after sales support is their Dealer Training Program and the UBCO Distributor & Dealer Portal. Dealer training in the form of workshops and online content capped with accreditation ensures all dealers are equipped to both sell and service UBCO products.
There are two clear types of customers, end users (individuals) and business customers (fleet) who are drawn from varied application areas. In New Zealand, the UBCO bike is used by the likes of Real Journeys, The Department of Conservation, Domino Pizza, and in the US, The Catalina Island Conservancy (California).
We’re working with Snowball Effect on our upcoming capital raise. You can click through to the UBCO preview page on Snowball Effect to register your investment interest to receive further information and gain early access to the offer when it launches.
If you’re interested in making a significant investment, meeting with the UBCO management team to discuss your investment, or you have any questions feel free to get in touch with us on [email protected].