London ebike company gears up for expansion with £1m crowdfunding campaign

A London electric bike company has announced that it has launched a £1m crowdfunding campaign in response to an increase in demand.

HumanForest, which says it is ‘London’s only truly sustainable electric city bike’, has launched the crowdfunding campaign with Crowdcube.

The fundraise comes following a seed investment round of £1.8m and trials in Islington and Camden last summer.

Funding from the campaign will be used to buy more e-bikes, which will allow the company to open in ten London boroughs next spring, adding five more boroughs by July 2021.

Agustin Guilisasti, CEO and founder, commented: “At the heart of HumanForest is a desire to help people make sustainable choices that protect the environment.

“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 4 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 micro-mobility industry is forecast to grow 20 per cent per year until 2030, transforming cities and helping to create a greener future for all.

“Over 8m 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. “