Business

Partnerships, acquisitions and investment news

HumanForest secures £1.25 million crowdfunding investment

HumanForest has secured its target crowdfunding investment of £1.25 million. The campaign is now overfunded thanks to commitments from more than 445 investors. Capital raised will be used by HumanForest to acquire 1,500 electric bikes, expand into 15 London boroughs by summer 2021 and grow internationally in 2022. HumanForest launched …

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Micromobility: a tantalising prospect for Christmas sales?

According to the BA’s Market Data Service – powered by Sports Marketing Surveys (SMS) – it’s beginning to look a lot like Christmas buying habits will be very different in 2020… In total, this market, which is predominantly made up of electric and non-electric scooters, has followed the wider cycling …

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E-bike sales set to grow to 17 million per year by 2030

E-bikes are set to grow from 3.7 million bikes sold in 2019 to 17 million in 2030, a new forecast from CIE, CONEBI and ECF has predicted. Using a new forecasting approach which analysed current trends, COVID-19 impacts and Government announcements about future cycling investments, the three European cycling organisations …

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Voi raises $160 million in new funding to accelerate expansion

Voi has raised $160 million in new funding led by The Raine Group. Investors including VNV Global, Balderton, Creandum, Project A, Inbox, Nordic Ninja and sustainability-focused investors, including Stena Sessan, also participated in the round and were joined by entrepreneurs and executives to global companies, including Delivery Hero, Klarna, iZettle, …

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E-bike startup to launch UK HQ in Birmingham

India-based e-bike startup Calamus is making its way into the UK market thanks to a place on the Birmingham Enterprise Community (BEC) Forward accelerator scheme. Calamus is now in line to receive full support and backing to help establish a base in Birmingham, operating its UK HQ from the city. …

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Scottish e-bike innovator FreeFlow Technologies secures £1.85 million funding

Scottish e-bike innovator FreeFlow Technologies (FFT) has secured £1.85 million in a funding round. The investment will support a move to a new headquarters and R&D facility in East Kilbride and further strengthen the team with senior technical positions and assembly engineers recruited. “FFT’s ‘novel’ patented e-bike transmission system is …

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MET Police issues open letter to retailers on responsible sale of e-scooters

The Metropolitan Police, alongside its partners at the Mayor’s Office for London, has issued an open letter to retailers on the responsible sale of e-scooters. Privately owned e-scooters remain illegal on roads and in public places in the UK, but the letter says many customers may not be aware of …

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E-bike startup raises £750,000 in seed funding to accelerate growth

British e-bike manufacturer FuroSystems has raised £750,000 in seed funding, with participation by TSP Ventures, ClearlySo and a number of angel investors. The company, which creates high-end electric bikes and electric scooters, has seen demand surge since the COVID-19 lockdown from an already high growth rate, with year-on-year sales up …

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Lime sees first profitable quarter, launches Gen4 scooter

Lime has become the ‘first’ new mobility company to reach cash-flow positive for a full quarter. It has also reached EBIT positive at the company level over the summer and is ‘on track’ to be profitable as a company for all of 2021. “This is a major step forward, not …

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Halfords reports e-mobility growth of 184% in latest interim results

Halfords has reported strong cycling revenue growth through H1, finishing at 54.4% LFL, with e-mobility at 184%. The retailer saw group revenue growth of 9.6% and profit before tax of £56 million, it announced in its interim results for the 26 weeks to 2nd October. Online sales grew by 148% …

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