HumanForest, a sustainable electric city bike business, has launched a £1m crowdfunding campaign with Crowdcube to meet growing levels of demand for its shared e-bikes.
Following a trial in the London Boroughs of Islington and Camden last summer, and a seed investment round of £1.8m, HumanForest is turning to its riders and the general public to help support increased demand.
Capital raised through the campaign will be used to buy more e-bikes, allowing the company to open in 10 London Boroughs next Spring with 1,000 e-bikes, before adding five more Boroughs and 500 e-bikes by July 2021.
With over 50 years’ mobility experience and the backing of Cabify’s founders, HumanForest is on a mission to help improve air quality in cities. After London, the company has its sights set on a second European city by 2022.
Agustin Guilisasti, CEO and founder, comments: “At the heart of HumanForest is a desire to help people make sustainable choices that protect the environment. We are excited to launch the crowdfunding campaign, creating another way for sustainability-minded people to do just that. With the crowd’s investment, we will facilitate up to 7,000 rides and avoid almost 4 tons of Co2 from being emitted into London’s air every day.
“Climate change can be overwhelming and there are still so many unknowns but HumanForest is a choice Londoners can make in their day-to-day lives to reduce their carbon footprint.”
Pre registration opens today to HumanForest users and the campaign will go live to the public on 17 November 2020.