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HumanForest grabs £2.3M funding: The Tesla of e-bikes is coming to London next month

HumanForest

It is estimated that the global shared transport market including micro-mobility will outgrow ride-hailing by 2030. This sector is expected to grow to $480 billion from $7.8 billion. This is evident as there has been an uptake in cycling in the last year as people seek sustainable and healthy transport options.

London launch next month

London has a low ratio of shared vehicles compared to other global cities. Making use of this growth, HumanForest, a sustainable micro-mobility startup has secured £2.3 million in a pre-series A funding round from undisclosed investors. Also, the company intends to launch its e-bikes in London in September.

The company will announce a number of partnerships with high-profile brands that align with its sustainable values over the coming weeks ahead of the launch. Last year, it added Financial Times and Whole Foods Market as corporate partners.

With this round, the HumanForest Board includes Vicente Pascual, Stefan Tilk (Vice Chairman and Group CEO of NEVS AB, the Swedish electric car manufacturer), Ignacio Gutierrez (Head of Latin America at Cabify), Agustin Guilisasti (Founder and CEO) and Caroline Seton (Co-Founder and Head of Growth).

Agustin Guilisasti, Founder & CEO at HumanForest said: “Securing this latest round of funding is another exciting milestone for us. We look forward to returning the show of faith from our investors with a successful launch and rapid customer acquisition. We are expecting to reach positive EBITDA after three months of truly green operations.

Caroline Seton, Co-founder & Head of Growth at HumanForest said: “This is an exciting moment in our growth story and, with this support, we are confident that we can become the largest and most popular operator in London.”

Operates sustainable e-bikes

Founded by former-Cabify lead Agustin Guilisasti and backed by Cabify founders Juan de Antonio and Vicente Pascual, it is the first micro-mobility company to develop this innovative business model, which connects users with associated partners in a sustainable way, with the technological architecture created in-house. The operator is trying to create a community of loyal users-turned-advocates, much in the way that Tesla has managed to do in the electric car space.

HumanForest e-bikes operate via a unique advertising-led revenue model. It lets consumers receive an advert from partners before and after using a HumanForest e-bike and ride for free for 10 minutes each day. The HumanForest e-bikes cost £0.15 per minute thereafter.

These e-bikes ensure to deliver zero emissions and are estimated that to facilitate up to 7,000 rides and avoid almost 4 tonnes of CO2 from being emitted into London’s air every day. During last year’s trial, the company grew its number of users by 48% each week and avoided 10 tonnes of CO2.