Home GreenTech & Clean Energy HumanForest secures €1.4 million via a Crowdcube campaign

HumanForest secures €1.4 million via a Crowdcube campaign

European Startup

HumanForest secures €1.4 million via a Crowdcube campaign
HumanForest secures €1.4 million via a Crowdcube campaign
London-based e-bike startup HumanForest has fruitfully completed its crowdfunding campaign in December 2020. Through the campaign, the startup has raised around €1.4 million with backing from over 520 investors.
Commenting on the recently acquired funds, CEO and founder of HumanForest, Agustin Guilisasti said, “I would like to offer a warm welcome to HumanForest’s 523 new shareholders. It gives me and the whole team at HumanForest great excitement to know that so many people from all around the world support HumanForest in its mission to reforest the world, one e-bike at a time!”

Founded in 2019, HumanForest 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. The startup is on a mission to provide sustainable micro-mobility to a group of global cities beginning with London in Spring 2021 and entering another European city in the first half of 2022. Its e-bikes and operations are truly green, offering users a greener way to travel while preventing air pollution and road traffic.

In the summer of 2020, the startup ran a successful trial in two regions of London. But, with the limited size of the fleet and the very high demand for its e-bikes, the startup was able to fulfill only 30% of the total demand. Intrinsically, these fresh funds will be used to increase the fleet to 1,500 e-bikes and relaunch London-wide in Spring 2021.

HumanForest’s business model is built on 3 segregated sources of revenue: users paying for rides, the digital marketing platform and corporate subscriptions.

  • HumanForest users pay 0.15p per minute after their free daily 10-minute ride is used up
  • Its partner companies pay to promote their brand within the HumanForest digital platform
  • Companies pay to provide their employees further time for using HumanForest’s e-bikes

Caroline Seton, Head of Growth at HumanForest said, the startup’s business model is unique and they believe this is one of the main reasons that they’ve had such an effective crowdfunding campaign. Furthermore, investors know that HumanForest is capable of strong future growth both in terms of revenue and user interest. He also added that the summer 2020 trial was a positive indicator that HumanForest is onto something great, over 10k users joined its community and 3 remarkable companies patterned with us; The Financial Times, Rude Health and Whole Foods Market.

He quoted, “With these funds, HumanForest is ready to return at scale!!’

The startup will be declaring the names of their corporate partners and the new e-bike model in early 2021 ahead of their Spring relaunch.

We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!

Next Story

Previous articleThe $100M+ Dollar Club of ASEAN Startups
Next articleSocial Gaming Platform Rec Room Raises Series C Funding
Aishwarya writes about the startup ecosystem on VCBay. She is a third-year Computer Science engineering student who looks forward to exploring the world of startups and finance.


Please enter your comment!
Please enter your name here