E-bike start-up HumanForest crowns May busiest month with 150,000 trips completed in London
E-bike start-up HumanForest has recorded its busiest month ever, as 150,000 trips were completed in May across London.
May ridership numbers surged from the 40,000 and 80,000 recorded in March and April respectively.
“The huge growth in e-bike usage across London is a credit to the local councils who have worked tirelessly to bring schemes like HumanForest to their residents,” said chief executive Agustin Guilisasti.
“By providing 10 minutes free daily, free parking in our virtual bays and training academies, HumanForest makes cycling accessible to everyone.”
Called the “Spotify of micromobility,” HumanForest carved a market niche for itself by adopting a partnership-based advertising revenue model, which enables it to offer the first 10 minutes for free.
Since starting operations in the capital, HumanForest has widened its reach from Islington and Canada to include almost the whole of central London, apart from Westminster.
The company, which is planning to expand to more cities in Europe, made the headlines last year when it raised £2.3m pre-series A funding, bringing its valuation from £10.2m to £32m in the span of two years since its foundation.