The global folding electric bicycle market has seen remarkable growth in recent years. Projections indicate an increase from £400 million in 2023 to £1.45 billion by 2029, with a compound annual growth rate of 10.2%. Riding this wave, FLIT — a Cambridge-based engineering company specialising in folding electric bikes for urban commuters — has secured £1.2 million in new funding. Investors include ACF Investors, Cambridge Angels, and Tony Purnell, former Head of Technical Development at British Cycling.
This investment will boost the production of their latest model, the FLIT M2, at their Cambridge facility. Building on a 2023 Innovate UK grant, the funding will speed up production and delivery to UK customers, which began in October 2024. The company’s total funding now stands at £1.424M, though its valuation remains undisclosed.
FLIT: changing how people interact with their urban environment
FLIT was founded in 2016 by Dave Henderson, a former Jaguar and Land Rover engineer, and Alex Murray. The co-founders met in 2015 while studying in Beijing, where the widespread use of electric two-wheelers inspired them to design an electric bike from the ground up rather than modify existing models.
Their vision was clear: create a folding e-bike that seamlessly integrates with public transport — trains, underground systems, and buses — to enhance city travel. Inspired by European urban landscapes, they aimed to make cities “happier and healthier places to be.” FLIT’s mission centres on revolutionising urban mobility by giving city dwellers a more flexible, efficient, and sustainable way to move around.
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.”
FLIT M2: the sub-15kg folding e-bike
FLIT’s e-bikes stand out in urban mobility with their lightweight, compact design. The M2, weighing just 14.5kg, easily fits into train luggage racks, can be carried upstairs, and rolls smoothly through city streets when folded.
The M2’s breakthrough feature is its no-weld adhesive bonding technique, also used in aerospace and automotive engineering. This innovation, developed during COVID-19 supply chain challenges, speeds up production and improves structural precision. Compared to traditional welded frames, it results in a tighter, more compact fold and a 1kg weight reduction.
In the competitive folding electric bike market, FLIT faces established rivals. Brompton, the UK’s most recognised brand, brings 45 years of folding bike expertise and offers an electric version with a front hub motor and removable battery. Gocycle, another UK brand, features sleek designs with proprietary technology like single-sided forks and mag wheels. Tern specialises in cargo-capable folding e-bikes, with models like the Vektron Q9 designed for heavy loads.
FLIT distinguishes itself through its lightweight design (14 kg), compact fold (797 x 600 x 305 mm), and innovative adhesive-bonded frame construction. The FLIT M2 features a rear hub motor for enhanced traction, a hidden battery in the crossbar for clean aesthetics, and competitive pricing (£1,999 introductory). It offers specifications similar to or better than premium alternatives like Brompton and Gocycle.
Redefining urban mobility
The stakes for urban mobility in 2025 are high as cities face increasing challenges in transportation and sustainability. Managing Partner at ACF Investors, Tim Mills, concluded: “FLIT is exactly the 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.”
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