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UgoWork

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Provides the most advanced, cost-efficient, and proven energy management program in the material handling industry

CanadaFounded 2011Energy
Valuation $100–250M Last recorded · 2024
Headcount <100 Current team size
Total funding $50–100M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for UgoWork and the history behind them.

About UgoWork

UgoWork is a startup that provides flexible power solutions, primarily focusing on energy management. Their services are backed by a 24/7 expert-led program and are delivered through a cloud-based platform. The company operates in the energy sector, specifically targeting businesses that require efficient and sustainable energy solutions for their operations.

UgoWork's primary offering is a high-performance battery system that uses lithium-ion chemistry. This system is designed to replace traditional lead-acid battery infrastructures, providing a more powerful and efficient solution. The company's batteries are equipped with IoT connectivity, which opens up possibilities for improving equipment uptime, operator safety, fleet optimization, and energy savings.

The company's business model is based on a pay-per-use system, with an unlimited warranty. This model allows businesses to only pay for the energy they consume, making it a cost-effective solution. UgoWork's batteries are used in various types of industrial trucks, including walkies, reach trucks, and counterbalanced forklifts.

UgoWork also offers a service called Energy as a Service, which helps businesses assess risks, manage bottlenecks, optimize fleet operations, and scale their energy transition. This service is designed to help businesses unlock their full operational potential.

In summary, UgoWork is a startup that provides flexible, efficient, and sustainable energy solutions to businesses. Their offerings include a high-performance battery system and an energy management service, both of which are designed to help businesses optimize their operations and reduce their energy consumption.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2011
Headquarters
Canada
Employees
60
Open positions
None listed
Dealroom signal
33.1/100
Industry
Energy
Sub-industry
Energy Efficiency, Energy Storage
Sector
Energy, Lithium-Ion Batteries, Battery, Spinout, Sustainable Development Goals, Battery Management System, EV Battery, Climate Tech, DT and LS, science-based
Business model
Manufacturing
Client focus
b2b

Funding history

10 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
DEBTDebt Jul 2024 $18M — Desjardins Group ↗
GRANTOther financing Jul 2024 $12M — Export Development Canada ↗
Showing the latest 2 of 10 recorded eventsBook a demo for the full funding history →

Growth signals

UgoWork website traffic

Latest recorded traffic for UgoWork is 3.1K monthly website visits, up 3.3% over the last three months. UgoWork's team declined 3.2% over the past year.

Latest monthly visits3.1K 3-month web change+3.3% 1-year team growth-3.2%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Open positions

Openings linked to this company in Dealroom
1 distinct opening shownExplore hiring signals →

Similar companies

Closest operating peers by Dealroom taxonomy

Company identity and context are open; selected comparison metrics preview what is available on the platform.

Showing 8 of the closest matchesCompare every metric →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

8 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed2 investors entered at this stage

  • ACET
  • Government of Quebec

Series A4 investors entered at this stage

  • Fonds de solidarité FTQ
  • Invest Quebec
  • Desjardins Capital
  • Export Development Canada

Series B and later1 investor entered at this stage

  • Desjardins Group

Other known investors1 additional known investor

  • University of Sherbrooke
Team profiled 4 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 2 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
2 countries with
team presence
🇨🇦 Canada95.1%
🇺🇸 United States4.9%
2 countries shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about UgoWork on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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