As more people turn to bicycles due to COVID-19 and cities prioritize improved air quality, the growth of the electric bike industry is accelerating. Demonstrating this trend, British e-bike manufacturer FuroSystems has recently completed its initial institutional funding round, securing £750,000 with investments from TSP Ventures, ClearlySo, and various private investors.

Similar to newer e-bike companies like VanMoof and Cowboy, London-based FuroSystems offers a distinctive approach to e-bike design. A key feature of their bikes is their lightweight construction, allowing for easy pedaling even when the electric motor is disengaged. Additionally, their pricing remains competitive within the bicycle market.

The company also distinguishes itself with a folding e-bike model, the Furo X, which boasts a carbon-fiber frame making it exceptionally light at only 15 kg. Its high-density, removable lithium-ion battery provides a range of 55 km. FuroSystems further utilizes standard components like Shimano gears and hydraulic disc brakes, positioning them alongside competitors such as Gocycle and Brompton.

These attributes are contributing to their increasing popularity among daily commuters.

The company, which also produces electric scooters, reports a significant increase in demand since the start of the coronavirus lockdowns, with sales increasing fivefold compared to the previous year. Notably, FuroSystems claims to have been profitable since its inception, and this new funding will be allocated to research and development for future product lines.

Eliott Wertheimer, CEO and co-founder, stated: “We are witnessing a historic change in transportation, driven by growing environmental awareness and a desire for healthier lifestyles. Electric bikes and scooters are essential for addressing current mobility challenges like congestion and pollution.”

Wertheimer also mentioned that a portion of the bike manufacturing process is likely to be relocated to Portugal to meet growing demand.

Chris Smith, CEO of TSP Ventures, noted: “The e-bike market has experienced substantial expansion in recent years, with projected sales reaching €10 billion by 2025, and FuroSystems is well-positioned within this rapidly developing industry.”

The startup has also developed the Fuze, a premium e-scooter featuring over 800W of peak power, double suspension, dual mechanical disc brakes, a remote key lock and alarm system, and reinforced 10” pneumatic tires. The scooter’s power and maximum speed can be adjusted to adhere to local regulations.

The Aventa, a new e-bike model, is currently in development and will include aerospace-grade alloys, a boost system, hydraulic disc brakes, nine gears, a high-performance clutch, and an integrated 504Wh battery, all while maintaining a weight under 17 kg. The Aventa will be available for pre-order from FuroSystems.com at the end of the month, with prices starting at £1,399.

Founders Albert Nassar and Eliott Wertheimer initially connected while studying mechanical and aerospace engineering, respectively, at the University of Bristol. Nassar later contributed to the autonomous drone inspection team at the Bristol Robotics Laboratory, which subsequently became Perceptual Robotics, while Wertheimer worked on developing small nuclear batteries for miniature satellites in collaboration with the European Space Agency and various U.K. universities. The two reunited at Imperial College’s Business School in 2015 and established FuroSystems in 2017.