FLIT

Cambridge-based folding electric bike pioneer Flit has raised £1.2 million in a funding round aimed at boosting the production of its innovative, lightweight folding e-bikes.Summary of transaction details:Value: £1.2 millionSector: Consumer GoodsAdvisor: None DisclosedKey Entities: FlitLocation: Cambridge, UKNote: The capital injection will allow Flit to scale up production and challenge market leaders like Brompton. The company's key competitive advantage lies in its pioneering lighter, non-welded frame design for urban commuters.

Investor: Tony Purnell, ACF investors