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

Electric car sales flatline as manufacturers call for...

January 5, 2024

Big Technologies founder Sara Murray agrees to asset...

May 28, 2025

Home Renovation Business in a Globalized Market: 10...

March 7, 2025

Business Settings that Need Rolling Shutters

May 15, 2025

Biggest tech trends for businesses in 2023 according...

February 8, 2023

‘If they close, they close’: Education Secretary brushes...

February 23, 2025

Does your business have the right shape of...

October 3, 2023

Why RTP Matters: How Return to Player Rates...

September 26, 2024

Restaurant closes after fraudsters posing as officials steal...

December 12, 2022

Manychat secures $140m to scale AI-powered customer engagement...

April 22, 2025

    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

    • Harmony Squad: Supreme Court Issues Six Unanimous Decisions

      June 5, 2025
    • Quick Login to AmourFactory: A Beginner’s Guide

      June 5, 2025
    • Disabling Trump’s “Tariff Button”

      June 5, 2025
    • ‘Sick puppy’ Tim Walz should never have been on Dems’ 2024 ticket, Trump says

      June 5, 2025
    • Federal judge orders Trump to restore funding to Clinton-era agency gutted by DOGE

      June 5, 2025
    • Musk says Trump would have lost 2024 election without him as ‘Big Beautiful Bill’ feud continues

      June 5, 2025

    Categories

    • Business (8,149)
    • Investing (2,011)
    • Politics (15,535)
    • Stocks (3,128)
    • 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