Cambridge-based FLIT has raised £1.2M in funding to boost production of its folding electric bike, the FLIT M2, aimed at urban commuters. Supported by ACF Investors and others, this funding will enhance manufacturing capabilities at their Cambridge facility. The founders, Dave Henderson and Alex Murray, were inspired by their experiences in Beijing and a focus on urban mobility. They plan to capitalize on the increasing demand for electric bikes, with deliveries starting in October 2024 following a previous Innovate UK grant.
"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."
"This latest funding follows an Innovate UK grant in 2023 and will accelerate production and delivery of the FLIT M2 to UK customers, which began in October 2024."
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