FLIT to ramp up electric bike production as investors pump in £1.2m
ACF Investors, Cambridge Angels and former Head of Technical Development at British Cycling, Tony Purnell participated in the funding round.
The folding electric bike market has seen significant growth in recent years due to the increased demand from urban commuters for space-saving options and was worth approximately £400 million in 2023.
Designed for urban mobility, FLIT’s e-bikes are lighter and more compact than traditional e-bikes. At just 14.5kg, the company says the M2 is designed to fit easily into train luggage racks, carry up stairs, and roll through city streets when folded.
A key innovation behind the M2 is FLIT’s no-weld adhesive bonding technique, which is also used in aerospace and automotive engineering. Initially developed as a response to supply chain disruptions during COVID-19, the no-weld technique not only accelerates production times but also enhances structural precision, enabling a tighter, more compact fold and a 1kg weight reduction compared to a similar welded frame.
This latest funding builds on an Innovate UK grant in 2023 and will accelerate production and delivery of the FLIT M2 to UK customers, which began last October.
Alex Murray, Managing Director and co-founder of FLIT, said: “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.”
Tim Mills, Managing Partner at ACF Investors, added: “FLIT is exactly the type of 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.”
• Tony Purnell was the first winner of the Business Weekly Awards, now in its 35th year, and won a second award in three years, with his Pi Research enterprise.