FreeFlow Technologies (FFT), an East Kilbride-based e-Bike company, has completed a £1.65m funding round led by investment syndicate Kelvin Capital.

The new funding will accelerate the production of the company’s light power to weight e-Bike motor this year. In addition, the new funds will see additional staff recruited across electrical and software engineering, process engineering and design.

A previous funding round in November 2020 secured the company £1.85m. FFT used the funds to move to new headquarters and R&D facility in East Kilbride and add senior technical positions and assembly engineers.

With an additional £1.85m funding round back in 2018, the total raised by FFT has hit £5.3m.

The latest round was also supported by Equity Gap, Scottish Enterprise and many private individuals.

Martin McCourt, Chairman of FreeFlow Technologies and former Global CEO of Dyson, said: “FreeFlow Technology will soon be on sale, incorporated into a number of leading bike brands, and we are thrilled to have had such enthusiastic support from our existing investors as well as several new ones.”

FFT’s patented e-Bike transmission system is more lightweight, compact, with the motor and battery easily assembled into the bicycle frame rather than an oversized attachment as is common with current electric bikes.

This helps the e-Bike look, and ride like a normal bike, a key requirement for brands and their end customers.

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David Hemming, Managing Director of FreeFlow Technologies, added: “Despite the impact of Covid on societies around the world over the last two years the demand and adoption of e-Bikes continues to grow significantly, which is being reflected in the number of cycle manufacturers reaching out to us.

“One of the major appeals of the FreeFlow system for e-Bike designers is that it is very much ‘plug and play’ and can work in harmony with a brand’s existing battery or switch suppliers. It has also been commented that it makes an e-Bike look and feel like a normal bike which is a big attraction for consumers.”

John McNicol from Kelvin Capital said: “The rise in the number of people taking to cycling and e-biking was already rising before the impact of Covid and that has increased significantly in the last two years.

“The impressive progress made by FreeFlow Technologies to move to production, its increasing reputation in the global cycling sector and its impressive management team means that Kelvin Capital is delighted to continue to back the business.”

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