More than $70m raised, nothing left: the rise and fall of Ubco

Ubco even counted global pizza chain Dominos among its customers. (Image: Supplied)

Tue, 21 Jan 2025

After raising approximately US$40 million (NZ$71m) over its nine-year lifespan, Tauranga’s Ubco has entered receivership but will continue to support its final commitments as a startup.Ubco produced several models of electric two-wheeled vehicles, which it sold to customers worldwide.Most recently, Ubco inked a deal to supply Australia Post with 175 bikes in August 2024 to be used by postal delivery workers in a pilot of the products.Australia Post declined to comment on Ubco being placed into receivership, but BusinessDesk understands th...

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