Cambridge-Based Flit Raises £1.2 Million to Compete with Brompton in Folding E-Bike Market
Last Updated on February 18, 2025 by Kristina
Flit, a Cambridge-based engineering company that specializes in folding electric bikes, is gearing up to challenge the market leader Brompton after securing £1.2 million ($1.5 million) in new funding. The company’s rapid growth has been fueled by a surge in demand for its bikes, with customers now facing a waiting list of up to four months.
Co-founder and managing director Alex Murray explained that the company’s current production capabilities simply cannot meet the overwhelming demand for its products. He emphasized the need to expand quickly, stating, “Demand is outstripping our ability to supply it.”
The fundraising round, which was led by ACF Investors and Cambridge Angels, also saw backing from notable individual investors, including Tony Purnell. Purnell, who has extensive experience in the cycling world as former head of technical development at British Cycling, as well as a background with Formula One teams Jaguar and Red Bull, is now joining Flit’s mission to ramp up production.
Flit was founded in 2016 by Murray, an avid cycling enthusiast who has ridden across America and China, alongside Dave Henderson, a former engineer at Jaguar Land Rover. The company received a £214,000 ($267,000) grant in 2020 from Innovate UK, the government’s innovation agency, to help develop a groundbreaking manufacturing technique for bike frames.
During the COVID-19 pandemic, Flit experienced an 18-month delay in the delivery of bike frames from its usual supplier in Taiwan, driven by global supply chain challenges. With the grant, the company used this time to develop an innovative method for bonding bike frames without welding. This new process not only made their M2 model lighter—at just over 14kg (30.9 lbs)—but also eliminated the distortion that can occur with welding, enabling the bikes to fold more easily.
Murray emphasized, “Not only did it improve the product, but it also re-imagined how we manufactured it and gave us a lot more flexibility. By using this unique process, we wanted to set it up in the UK so we could take a hands-on approach and perfect it ourselves.”
While the aluminium used for the bike frames and some other components are imported, all of Flit’s bikes are fully assembled in Cambridge. Murray shared that the company deliberately chose Cambridge as its base because of the city’s vibrant cycling community. “We’re very close to our community of cyclists, which has been a key part of our success.”
Flit is now aiming to compete head-to-head with Brompton, the well-established folding bike brand. Brompton recently announced that it was facing a challenging year, forecasting a modest profit before tax of just £4,602 ($5,735) for the 12 months ending in March 2024—less than the cost of one of its premium bikes.
As Flit continues to grow, it’s clear that the folding e-bike market is heating up, and Flit is positioning itself as a strong contender to take on the giants.
What do you think of Flit’s innovative approach to bike manufacturing? Will they be able to challenge the folding bike giant, Brompton? Share your thoughts in the comments below! And don’t forget to subscribe for more updates on the latest in the e-bike industry!
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Kristina is not just an enthusiast but a true authority on electric bikes. Nestled in the coastal beauty of Virginia, Kristina has found the perfect backdrop for her passion for electric biking. As a dedicated wife and homeschooling mom, her life revolves around family, faith, and the thrill of adventure.
Originally hailing from Ohio, Kristina's journey with electric bikes began as a curiosity and quickly evolved into a deep expertise. Her blog is a testament to her love for electric biking, combining her fascination for eco-friendly transportation with her coastal lifestyle.
When she's not cruising the beach on her electric bike, you'll find Kristina indulging in her other loves: long walks along the shore, getting lost in a good book, and cherishing moments with her loved ones. With a heart as big as her love for animals, especially cats, Kristina brings a unique perspective to the electric bike world, grounded in her strong faith in God and her dedication to a sustainable lifestyle.
Through her blog, Kristina shares her extensive knowledge of electric bikes, offering valuable insights, tips, and recommendations to fellow enthusiasts. Whether you're a seasoned rider or a newcomer to the electric bike scene, Kristina's blog is your go-to source for all things electric biking, fueled by her passion, expertise, and the scenic beauty of coastal Virginia.
