FLIT in gear for growth with £1.2 million backing

A folding electric bike builder says it will shift production up a gear after securing £1.2 million support.

FLIT has been backed to ramp up work on its new M2 model.

Bosses at the Cambridge-based company say the cash injection will strengthen the business’ presence in a market worth hundreds of millions of pounds.

It has been backed by ACF Investors, Cambridge Angels and British Cycling’s former head of technical development Tony Purnell. 

The funding comes after an Innovate UK grant in 2023.

Alex Murray, FLIT managing director and co-founder, said: “As cycling enthusiasts, we wanted to help people find better ways to move around cities.

“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, ACF Investors managing partner, added: “FLIT is exactly the type of innovative UK business we look to support.

“The team has combined engineering with a deep understanding of urban mobility to develop a truly innovative product.

“We are pleased to be part of their journey as they scale production.”

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