HumanForest raises €2M in funding

London-based e-bike startup HumanForest has raised €2M in a fresh round of funding held in September 2020, led by the top titans of the mobility sector, including founders of the ride-sharing App, Cabify.

Vicente Pascual and Stefan Tilks, ex-Volvo President and CEO of NEVS AB, the Swedish electric car manufacturer will be joining HumanForest’s board of directors.

Proceeds from the funding round will be used to support the unveiling of 1K e-bikes which will be arriving at the end of September and to increase the fleet to 2K e-bikes in the capital within a year.

Founded in 2020 itself by Agustin Guilisasti, the startup offers dockless, shared, and ad-supported e-bike services. Dockless bikes are those that do not require a docking station and can be parked within a defined area at a bike rack or along the footpath. Its specialty is that it gives the first 20 minutes free per day and also offers a corporate subscription service that is giving a tough competition to traditional mobility services in London.

Since getting launched in June this year, 14K users have taken almost 42K rides through its service. The number of rides has increased by over 100% every month.

The startup claims that users have helped in the non-emission of approximately 8 tons of Co2, which corresponds to planting almost 300 trees. HumanForest e-bikes are proving to be a popular and climate-friendly solution, offering a secure, inexpensive, and socially distant traveling option.

Vincent Pascual was quoted to say, “I worked with the team at HumanForest for ten years at Cabify and I believe that this is another disruptor. It is three disruptors in one; it provides free mobility for users through its partnership model, protects the planet and appeals to partner companies who seek to demonstrate their social impact. We are already seeing the success of the model and I am excited to be involved in its future growth.”

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