Angel
Farmers
2014
Rugged utility design
Hardware (Electric bikes)
Inventors Daryl Neal and Anthony Clyde commissioned prototypes themselves before raising seed funding to commercialise the electric farm bike.
Farmers and rural workers testing the rugged off-road bike were early customers; UBCO later expanded into delivery and adventure markets.
Startup Rollercoaster
The Spark
In 2014, Anthony Clyde and Daryl Neal built early prototypes of what became the UBCO Utility Electric Vehicle (farm/off-road bike). They worked in collaboration with Locus Research.
The Peak
By mid-2021, UBCO had raised US$10 million (≈ NZ$14 million) to expand its presence in the US and develop two new models.
The Drop
Scaling manufacturing proved difficult as sourcing components and managing quality at volume were challenging. Obtaining road-legal certification for expanded product lines added regulatory complexity.
The Reset
UBCO secured angel and seed funding in earlier rounds (including a 2015–16 raise of NZ$1.5–2.5 million) to increase production capacities.
They refined the bike’s design to include road-legal options and adapted features for recreational and delivery markets.
The Discipline
The company invested in R&D partnerships, modular design, and validation for off-road and road use to ensure reliability.
The Climb
With funding in 2021, UBCO increased international expansion, particularly into the US market, and launched new models enhancing its product range.
Its farm-bike heritage remains a central brand story.
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