Help CleanTechnica’s work by way of a Substack subscription or on Stripe.
Upway, a number one e-bike refurbishing firm that started in 2021, has simply raised $60 million in a Collection C funding spherical, bringing its whole funding to over $125 million. The newest funding spherical will likely be used for a number of endeavors. One that actually stood out is that it’ll create over 2,000 jobs.
One other is that new e-bikes are costly for some of us, so bringing used ones again to life and providing them at extra inexpensive costs can serve these potential patrons.
Upway co‑founder Stéphane Ficaja generously answered some questions for CleanTechnica.
What does Upway do and what is going to the $60M Collection C funding be used for?
Upway offers used e-bikes a second life and riders a alternative. The $60M Collection C will fund U.S. enlargement, job creation, and make e-bikes extra accessible by way of financing, insurance coverage, upkeep, and subscriptions. Mild mobility solely works if it’s round, so we’re constructing the infrastructure to make sure refurbished bikes meet the identical high quality and security requirements as new ones.
How massive is the worldwide refurbished e-bike market?
The worldwide refurbished e-bike market was valued at about $5 billion in 2024 and is projected to succeed in $12-13 billion by 2034. That development is a significant alternative for us to guide the shift towards round mobility, meet the rising demand for inexpensive, sustainable mobility, and set new requirements for high quality and security in refurbished e-bikes.
What’s the common worth of a refurbished e-bike and the way less expensive is it in comparison with new?
On common, our e-bikes at Upway are 45% lower than retail worth, saving patrons about $1,000 per bike. That worth distinction makes electrical mobility much more accessible for riders who need high quality with out the premium price ticket. Each bike is refurbished to fulfill strict security and efficiency requirements, so prospects get the identical reliability as new whereas decreasing waste and supporting a round financial system.
What number of e-bikes has Upway refurbished and offered?
Since launch, Upway has refurbished and offered greater than 100,000 e-bikes worldwide and we’re simply getting began. By 2030, we are going to refurbish a million e-bikes, proving efficiency, impression, and profitability can go hand in hand.
The place does Upway function?
As of now, we’re in 9 nations: France, Germany, Netherlands, Belgium, Switzerland, Austria, Italy, Spain, and the US. We at present run six UpCenters, our industrial refurbishment hubs, in New York, Los Angeles, Paris, Berlin, Mechelen, and Düsseldorf. We’ve plans to open six extra by 2027, together with one in Denver.
How can somebody purchase a refurbished e-bike from Upway?
Clients should buy e-bikes on-line at www.upway.co, and choose from greater than 200 manufacturers and a couple of,500 fashions. Every e-bike is refurbished in-house, passes a rigorous 50-point inspection, and comes with a one-year guarantee and residential supply.
What number of extra e-bikes will Upway refurbish?
We’re aiming excessive. By 2030, Upway will refurbish and promote multiple million e-bikes yearly, offering much more riders with entry to inexpensive and sustainable mobility.
Join CleanTechnica’s Weekly Substack for Zach and Scott’s in-depth analyses and excessive stage summaries, join our each day publication, and observe us on Google Information!
Have a tip for CleanTechnica? Need to promote? Need to counsel a visitor for our CleanTech Speak podcast? Contact us right here.
Join our each day publication for 15 new cleantech tales a day. Or join our weekly one on high tales of the week if each day is simply too frequent.
CleanTechnica makes use of affiliate hyperlinks. See our coverage right here.
CleanTechnica’s Remark Coverage
