HumanForest, a UK-based electric city bike company, has successfully secured its initial £1.2 million funding target through its equity crowdfunding campaign on Crowdcube. The funding round was launched last month and has attracted near 450 Crowdcube investors.
As previously reported, HumanForest partners with companies by advertising on its digital marketing platform to enable the ride. HumanForest reports that it has already partnered with three companies during the trial; The Financial Times, Whole Foods Market, and Rude Health. Agustin Guilisasti, CEO and Founder of HumanForest, recently stated:
“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.”
HumanForest will use the additional capital raised to purchase more e-bikes in preparation to open in 10 London Boroughs next spring. The company says five more are scheduled for the summer of 2021. After London, HumanForest plans a second European city by 2022. HumanForest will compete with existing city bike programs. HumanForest is now offering 12.13% in equity at a £9,059,000 pre-money valuation through the funding round, which is set to close next week.
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