# Urban Electric Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/urban-electric

- Industry: Consumer Services
- Headquarters: Pasadena, US
- Website: www.urb-e.com
- Total disclosed funding: $5M
- Latest round: Series A (Feb 25, 2021)
- Investors on record: 2

## About

Urban Electric Co. is a US-based company specializing in the design and manufacturing of electric cargo bikes and scooters, aimed at enhancing urban delivery solutions through sustainable transportation alternatives.Founded in 2015 in Pasadena, California, Urban Electric Co. focuses on producing electric cargo bikes designed for urban logistics. The company has secured a total of 3 funding deals, with the latest being a Series A round in February 2021, raising USD 5 mn led by UBS Wealth Management and AgFunder. The company is co-founded by Peter Lee and Sven Etzelsberger, who currently serves as the CEO.Urban Electric Co. specializes in the design and manufacturing of electric cargo bikes and scooters tailored for urban delivery solutions. Their core offerings include electric cargo bikes designed to replace traditional vehicles, featuring a standard electronically limited top speed of 13 mph. These products target businesses in logistics and delivery services across North America, including partnerships with companies like Amazon.Urban Electric Co. generates revenue through direct sales of its electric bikes and scooters, as well as partnerships with retail outlets. Their revenue model includes direct-to-consumer sales via online platforms, catering to both individual consumers and businesses seeking sustainable delivery solutions. The company’s flagship products, especially the electric cargo bikes, are designed for high productivity in urban environments.In February 2021, Urban Electric Co. raised USD 5 mn in Series A funding to scale its local delivery networks and explore deployments in additional cities. The company plans to introduce new models of electric bikes and expand into new geographic regions, although specific markets have not been disclosed. The recent funding will support these growth initiatives, emphasizing the company’s commitment to enhancing urban mobility.

## Funding rounds

- Series A, Feb 25, 2021, $5M — UBS Wealth Management, AgFunder

## Investors

- UBS Wealth Management — Series A
- AgFunder (https://capitalatlas.ai/funds/agfunder) — Series A