London-based the parent company of e-bike operator Forest HumanForest secures £5 million extension in series A round funding bringing its Series A total to £17 million.
Funding for the equity investment comes from many Cabify executives, Fen Ventures, Güil Mobility Ventures, and sustainable finance specialist Triodos Bank UK. The funds will go towards improving the business’s parking compliance software and advertising technology infrastructure.
Following an initial investment of £12 million in April of this year, the total Series A has reached £17 million. Agustin Guilisasti, a former Cabify employee, co-founded Forest, a sustainable micromobility platform, with Caroline Seton and Michael Stewart.
The company is the initial micromobility company in the globe to have received Verra authorization and is one of only two micromobility companies worldwide to have earned B Corp recognition.
According to Agustin Guilisasti, CEO and Founder of Forest: “The extension of the Series A to £17 million is a testament to Forest’s resilient business model and our growth trajectory. Forest operates at the intersection of the needs of cities to decarbonise travel and users who need affordable solutions. We are proud to be growing our service with further support from Triodos Bank UK and two new partners.”
Amandine Tetot, Head of Project Finance at Triodos Bank UK, said: “Since our initial finance arrangement earlier this year, it’s impressive to see Forest go from strength to strength as it rolls out its fleet to more London boroughs. It’s just the kind of forward-thinking company we want to partner with, as we all work towards net-zero solutions for cities. We are proud that Forest took the opportunity to roll out new e-bikes to drive awareness of UK waterways and generate funds to support The Rivers Trust.”
They want to see a shift in the way people live in our cities, from vehicles to bikes. They are the most reasonably priced sustainable transport option available to Londoners thanks to our innovative business strategy.
Riding the HumanForest eBike is pleasant, safe, and practical. HumanForest eBikes are robust and long-lasting, designed to share and transport you effectively and sustainably. So wish, take a breath, pick up a bike, and join HumanForest.