FLIT, an engineering company that builds folding electric bikes for urban commuters, has raised £1.2 million in new funding with participation from ACF Investors, Cambridge Angels and former Head of Technical Development at British Cycling, Tony Purnell. The funding will be used to ramp up production of its latest model, the FLIT M2 at its Cambridge facility.
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 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.
