Upway
This startup provides certified, refurbished electric bikes that undergo rigorous inspections to ensure the integrity of their frames, mechanical components, drive systems, and batteries. By offering these quality e-bikes at significantly discounted prices, the company makes eco-friendly transportation accessible to a broader audience.
- Commerce & Shopping
- Consumer Goods
- Mobility & Transportation
- Retail Technology
Funding
Raised to date
$60.7MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
across 1 round
+3$60M · Series C
Announced Nov 2025
Disclosed cumulative: $60M
Founders
Product
Problem
The high cost of new electric bikes (e-bikes) can be a barrier to entry for many consumers seeking eco-friendly transportation options. Concerns about the safety and reliability of used e-bikes purchased through private sales also deter potential buyers.
Solution
Upway offers certified pre-owned and new overstock e-bikes at discounts of up to 60% off retail prices, making sustainable transportation more accessible. Each e-bike undergoes a detailed 50-point inspection and refurbishment process by certified mechanics, ensuring both mechanical and electrical components meet high standards. Upway provides a one-year warranty covering mechanical and electrical defects, offering customers peace of mind. Customers can browse a wide selection of e-bike types, including city, mountain, cargo, and folding bikes, from top brands. Upway also facilitates a hassle-free selling process for individuals looking to trade in their used e-bikes.
Target Audience
Upway's primary customers are individuals seeking affordable, eco-friendly transportation, including urban commuters, recreational riders, and those looking to replace car trips with e-bikes.
Features
- Certified pre-owned and new overstock e-bikes from leading brands like Aventon, Specialized, and Rad Power Bikes
- Rigorous 50-point inspection process covering frame integrity, mechanical components, drive system, battery health, and accessories
- Refurbishment includes replacement of worn parts such as tires, brakes, cables, and chains
- Electrical repairs include battery refurbishment or replacement if capacity is below 80%
- One-year warranty covering mechanical and electrical defects
- 14-day return policy for customer satisfaction
- Option to sell used e-bikes to Upway for cash, with free shipping and pick-up
- Wide selection of e-bike types: city/hybrid, mountain, folding, road, and cargo
- E-bike finder tool to help customers identify the right bike based on their needs