Electric bike firm gears up for growth with £1.8m investment
A London-based e-bike specialist is set for growth after raising £1.8m in its latest investment round.
Electric bike firm HumanForest has secured multi-million pound funding through its latest investment.
HumanForest, which launched in June this year, provides e-bikes across the capital. The firm has seen the number of rides on its bikes increase by over 100 per cent month-on-month.
The investment will be used to support the roll out of 1,000 e-bikes by the end of September, part of a wider strategy to grow the fleet to 2,000 London e-bikes within 12 months.
As well as the fundraise, Cabify co-founder Vicente Pascual has joined the firm’s board along with Stefan Tilks, ex-Volvo President and CEO of Swedish electric car manufacturer NEVS AB.
Vincent commented: “I worked with the team at HumanForest for ten years at Cabify and I believe that this is another disruptor.
“It is three disruptors in one; it provides free mobility for users through its partnership model, protects the planet and appeals to partner companies who seek to demonstrate their social impact.
“We are already seeing the success of the model and I am excited to be involved in its future growth.”
Stefan added: “I am pleased to be part of the HumanForest board in this new adventure.
“With over 30 years of experience in the mobility sector at traditional companies such as Volvo, I know how important this next phase of the electric transport revolution is going to be.
“HumanForest has a unique business model that is completely new to the industry and it couldn’t be timelier as electric transport is set to change the way people move.”
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