FLIT funding news – UK-based FLIT Raises £1.2M in New Funding

The company received support from ACF Investors, Cambridge Angels, and Tony Purnell, the former Head of Technical Development at British Cycling.

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ACF Investors, formerly known as the Angel CoFund, is a venture capital fund that invests in high-potential small businesses in the UK, partnering with experienced investors to provide funding for exceptional companies.

Tim Mills, Managing Partner at ACF Investors, says, “FLIT is exactly the innovative UK business we look to support. The team has combined cutting-edge engineering with a deep understanding of urban mobility to develop a truly innovative product. Its unique approach to design and manufacturing positions them perfectly to capitalise on the growing e-bike market. We are pleased to be part of their journey as they scale production and bring the FLIT M2 to more riders across the UK.”

The funding will help increase production of FLIT's newest model, the FLIT M2, at its Cambridge facility. This follows a grant from Innovate UK in 2023 and will speed up the production and delivery of the FLIT M2 to customers in the UK, starting in October 2024.

Alex Murray, Managing Director and co-founder of FLIT says, “As cycling enthusiasts, we wanted to help people find better ways to move around cities. Unlike traditional e-bikes that retrofit motors and batteries onto non-electric designs, we build from the ground up, integrating folding and electric capabilities from the start. By applying aerospace-grade bonding techniques, we’ve eliminated the distortions caused by welding, resulting in a lighter, stronger, and more compact design. Our mission has always been to make cycling easier and more accessible for urban commuters, and this funding allows us to take that mission to the next level with the FLIT M2.”

About FLIT

FLIT’s goal is to change how they move around cities. They believe folding electric bikes give people more freedom to travel easily, jumping on and off as needed, and always being able to take their bike with them.