About Ultra Motor
Ultra Motor is a Transportation, Automotive & Logistics company based in London (United Kingdom) founded in 2003, and was acquired by Hero Eco in December 2011. Electric bicycles were manufactured by Ultra Motor in the UK. Ultra Motor has raised $71.9 million across 8 funding rounds from investors including Flintstone Technology, Alfanor and GDS Consult. Ultra Motor was last valued at $106.3 million in February 2010. Its chief executive, as recorded, is Joe Bowman. Its focus areas include Energy Tech, Electric Vehicles, Automaker and Light Electric Vehicles. Its legal entity is ULTRA MOTOR LIMITED. Its competitors include Gocycle, VOLT Bikes and FuroSystems; 2 of its 3 listed competitors have raised funding.
Company details
Ultra Motor was founded in 2003 in London, United Kingdom, as a manufacturer in the electric bicycle sector. Operations focused on developing the A2B electric bicycle range, with offices maintained worldwide. The company faced bankruptcy in 2011 and was subsequently acquired by Hero Eco. Leadership was provided by CEO Joe Bowman during its active period.
- Headquarters London, United Kingdom
- Stage Acquired
- SectorsTransportation, Automotive & Logistics
- Website ultramotor.com
- Social LinkedIn X
- Acquired by Hero Eco (Dec 2011)
- Legal Name Ultra Motor Limited
- Annual Revenue$2.83 M (USD)25989as on Mar 31, 2010
- Total Equity Funding$71.9M (USD)
in 8 rounds
- Latest Funding Round$29.3M (USD), Series C
Feb 2010
- InvestorsFlintstone Technology
& 30 more
- Acquired byHero Eco
(Dec 2011)
Funding Insights of Ultra Motor
Ultra Motor has successfully raised a total of $71.9M across 8 strategic funding rounds. The most recent funding activity was a Series C round of $29.3 million completed in February 2010. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $71.9M
- Total Rounds 8
- Last Round Series C — $29.3M
- First Round $1.1M
(Mar 2004)
- Investors Count 30
All 8 funding rounds of Ultra Motor with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2010 | $29.3M | Series C | $106.3M | – | |
| Oct 2008 | $17.6M | Series B | $52.87M | Alfa Group Consortium | |
| Jun 2007 | $16M | Series B | $••••• | Alfa Group Consortium | |
| Nov 2006 | $3.7M | Series A | $••••• | Alfa Group Consortium | |
| Nov 2005 | $2.5M | Seed | $••••• | Jeremy Charles Hitchins, Andrew Richard Boyce | |
| Oct 2005 | $1.2M | Seed | $••••• | Alfa Group Consortium | |
| Mar 2005 | $499,800 | Seed | $••••• | Alfa Group Consortium | |
| Mar 2004 | $1.1M | Seed | $••••• | Alfa Group Consortium | – |
| Date | Valuation | Stage |
|---|---|---|
| Feb 2010 | $106.3M | •••••••• |
| Oct 2008 | $52.87M | •••••••• |
| Jun 2007 | $••••• | •••••••• |
| Nov 2006 | $••••• | •••••••• |
| Nov 2005 | $••••• | •••••••• |
| Oct 2005 | $••••• | •••••••• |
| Mar 2005 | $••••• | •••••••• |
| Mar 2004 | $••••• | •••••••• |
Full valuation and stage history of Ultra Motor
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $106.3M (Feb 2010). 31 investors in total: 10 institutional and 21 angel.
Investors in Ultra Motor
Ultra Motor has secured backing from 31 investors, including institutional, angel, and venture fund investors. Prominent investors backing the company include Flintstone Technology, Alfanor and GDS Consult.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity firm focused on multi-sector | alfagroup.org | Moscow, Russia | ||
Delivers comprehensive waste and water management solutions. | alfanor.com.uy | Montevideo, Uruguay | ||
A Romanian company focused on general business consulting services. | 2001 | gdsconsult.ro | Bucharest, Romania | |
Reinsurance company offering risk management and financial services in Algeria. | 1973 | ccr.dz | Algiers, Algeria | |
| rawlinson-hunter.com | ||||
| nobleenterprises.in | ||||
Well systems components, mooring systems and pipeline and riser products | 2005 | flint-tech.com | Dundee, United Kingdom | |
HD Henry de Giey | unknown_9fb80e7b21af461b9 | |||
JR Jonathan Richard Hitchins | unknown_b58a0033708146e58 | |||
AR Andrew Richard Boyce | unknown_155e5cd6324049218 |
Investor details for Ultra Motor
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Ultra Motor
1 people are tracked at Ultra Motor (1 in leadership).
| Name | Role | Group |
|---|---|---|
Joe Bowman | CEO | Leadership |
Complete people profiles for Ultra Motor
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Ultra Motor
5 dated milestones of Ultra Motor across 8 years, from founding to its latest funding, stage changes and deals.
- Founded Ultra Motor is founded.
- Funding First funding round of $1.1M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series C, of $29.3M.
- Exit Acquired by Hero Eco.
Competitors of Ultra Motor
Ultra Motor has 3 listed competitors in our database, 2 of them funded. They include Gocycle, VOLT Bikes and FuroSystems.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| gocycle.com | 2002 | London, United Kingdom | $500,000 | Folding electric bikes with automotive-inspired design and technology are manufactured. | ||
| voltbikes.co.uk | 2008 | London, United Kingdom | 9 | Electric bicycles are manufactured for urban commuting in the UK. | ||
| furosystems.com | 2016 | London, United Kingdom | $1M | Light electric motorcycles and mobility solutions are developed by FuroSystems. |
Detailed competitors of Ultra Motor
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
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Frequently Asked Questions about Ultra Motor
Ultra Motor was founded in 2003 and raised its 1st funding round 1 year after it was founded.
Ultra Motor is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Joe Bowman is the CEO of Ultra Motor, as recorded in our data.
Ultra Motor is a funded company, having raised a total of $71.9M across 8 funding rounds to date. The company's 1st funding round was a Seed of $1.1M, raised on Mar 2004.
Annual revenue of Ultra Motor is $2.83M as on Mar 31, 2010.
Ultra Motor was founded in 2003 in London, United Kingdom, as a manufacturer in the electric bicycle sector. Operations focused on developing the A2B electric bicycle range, with offices maintained worldwide. The company faced bankruptcy in 2011 and was subsequently acquired by Hero Eco. Leadership was provided by CEO Joe Bowman during its active period.
Ultra Motor's top competitors include Gocycle, FuroSystems and VOLT Bikes.
Ultra Motor has 31 investors. Key investors include Flintstone Technology, Alfanor, GDS Consult, Central Reinsurance Company, and Henry de Giey.
The valuation of Ultra Motor is $106.3M as of Feb 2010.
Ultra Motor operates through Ultra Motor Limited.
Yes. Ultra Motor was acquired by Hero Eco in December 2011.