HumanForest launches £1 million crowdfunding campaign to roll out more e-bikes

HumanForest has launched a £1 million crowdfunding campaign with Crowdcube, following a trial in Islington and Camden and a seed investment round of £1.8 million.

Capital raised through the campaign will be used to buy more e-bikes, allowing the company to open in ten London boroughs next spring with 1,000 e-bikes, before adding five more boroughs and 500 e-bikes by July 2021. After London, the company has its sights set on a second European city by 2022.

“At the heart of HumanForest is a desire to help people make sustainable choices that protect the environment,” said Agustin Guilisasti, CEO and founder. “We are excited to launch the crowdfunding campaign, creating another way for sustainability-minded people to do just that.

“With the crowd’s investment, we will facilitate up to 7,000 rides and avoid almost four tons of Co2 from being emitted into London’s air every day. Climate change can be overwhelming and there are still so many unknowns but HumanForest is a choice Londoners can make in their day-to-day lives to reduce their carbon footprint.”

Caroline Seton, head of growth, added: “The micromobility industry is forecast to grow 20% per year until 2030, transforming cities and helping to create a greener future for all. Over eight million trips per day could be cycled in London and HumanForest, through this campaign, hopes to help facilitate this mode shift, giving the crowd an opportunity to be part of the movement. ”

Pre-registration opened yesterday to HumanForest users and the campaign will go live to the public on 17th November.

In other news…

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 …