Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Folding bike pioneer Flit raises £1.2m to challenge Brompton’s dominance

by February 19, 2025
February 19, 2025
Folding bike pioneer Flit raises £1.2m to challenge Brompton’s dominance

A Cambridge-based start-up that designs and manufactures folding electric bikes has secured £1.2 million in fresh investment, aiming to ramp up production in a bid to rival market leader Brompton.

Flit, founded in 2016 by cycling enthusiast Alex Murray and former Jaguar Land Rover engineer Dave Henderson, says demand for its models far exceeds current supply, with customers facing a wait of up to four months.

The new funding round was led by ACF Investors and Cambridge Angels, and attracted high-profile backers, including Tony Purnell, former head of technical development at British Cycling and once a team principal for Jaguar’s and Red Bull’s Formula One outfits.

Flit first gained traction with a £214,000 grant from Innovate UK in 2020, money it used to pioneer a new technique for bonding bike frames without welding. According to Murray, this process delivers a lighter and more robust frame by eliminating the distortion risk seen in welded parts. The company’s M2 model weighs just over 14kg and folds easily, making it well-suited for the commuter market.

“Not only did it improve our product, but it also re-imagined how we manufacture,” Murray said, explaining the decision to base production in Cambridge. “We’re hands-on in the factory, which ensures we fully master and control the process. And being in a city that loves bikes puts us close to our core community.”

Although Flit imports the raw aluminium and certain components, the entire assembly process takes place in Cambridge. The aim is to challenge Brompton’s long-established foothold in the market; Brompton recently reported a difficult trading year, forecasting a pre-tax profit of just £4,602 for 2024.

Murray, a passionate cyclist who has ridden across America and China, hopes Flit’s growing order book and new manufacturing approach will help it capture a bigger slice of the urban cycling market. “Our next step is to scale up to meet demand,” he said, highlighting the company’s intention to reduce waiting times and continue expanding its market presence.

Read more:
Folding bike pioneer Flit raises £1.2m to challenge Brompton’s dominance

0
FacebookTwitterGoogle +Pinterest
previous post
Musk opens up about dinner party that soured when Trump’s name was invoked: ‘Like methamphetamine and rabies’
next post
Dyslexic founder secures Branson’s backing with ‘Elevator of Dreams’ pitch

You may also like

Virgin hails green light to challenge Eurostar as...

April 1, 2025

Prosecutions of tax evasion enablers fall 75% in...

March 31, 2025

Everything About Inventory Management. Plus Recommended Software For...

December 21, 2022

HMRC says 25% of R&D Tax Relief Scheme...

July 18, 2023

Sustainable Solutions: Modern Actuated Valves for Energy and...

May 26, 2023

Is Monetary Policy the Force Behind Shifting Exchange...

January 29, 2025

The Ripple Effect of Brexit Tax on UK’s...

June 17, 2023

Government-backed council to champion ‘unsung’ mid-sized businesses

December 2, 2024

Government launches £1bn scheme to insulate middle-income homes

November 28, 2022

PureVPN: 16 years of cybersecurity excellence, now 4x...

June 9, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Rescissions: A Small but Welcome Step Toward Spending Discipline

      June 5, 2025
    • DAVID MARCUS: Why Navy ships should not be named for gay rights icons

      June 5, 2025
    • GREGG JARRETT: Biden, the ‘marionette president; and the case of the runaway autopen

      June 5, 2025
    • Trump Practically Bans Travel and Immigration from 12 Countries with Flimsy Security Justifications

      June 5, 2025
    • ‘He’s not a big factor’: Trump’s Senate allies dismiss Elon Musk’s calls to ‘kill the bill’

      June 5, 2025
    • Fears grow that Tata Steel could be excluded from Starmer-Trump trade deal

      June 5, 2025

    Categories

    • Business (8,147)
    • Investing (2,008)
    • Politics (15,523)
    • Stocks (3,127)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved