FLIT, a Cambridge-based engineering company that builds folding electric bikes for urban commuters, has raised €1.4 million in new funding to ramp up production of its latest model, the FLIT M2 at its Cambridge facility.
The funding round included participation from ACF Investors, Cambridge Angels and former Head of Technical Development at British Cycling, Tony Purnell.
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.“
Founded in 2016 by Dave Henderson, an ex-Jaguar Land Rover engineer, and Alex Murray, a cycling enthusiast who has ridden across both the USA and China, FLIT was born out of a shared passion for getting more people on bikes by making city travel effortless, flexible, and fun.
According to FLIT, 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 €480.6 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 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 in October 2024.
The FLIT M2 is a noticeable upgrade to its previous iterations, notably that it weighs only 14.5kg (1kg lighter than their previous folding ebike) and that it is over 25% smaller when folded compared to previous model. The battery has a 230WH capacity, and a three hour charge time.
The current Spring batch is sold out, with the next pre-order delivery estimated for Summer 2025 (UK only).
Tim Mills, Managing Partner at ACF Investors, said: “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.”
Read the orginal article: https://www.eu-startups.com/2025/02/pedal-forward-flit-raises-e1-4-million-to-scale-its-ultra-compact-folding-e-bike/
