London-based micromobility firm Beryl has raised a new £2 million round secured from Frontier Development Capital, tech.eu reports.
The investment will support the development of a new plant in Poole, Dorset. Including this investment, Beryl has raised approximately £23.3m since the end of 2012 and is backed by Entrepreneur First, Sir Richard Branson, Index Ventures and British Business Bank among others.
The company is the UK’s only micromobility provider to design, develop and manufacture its own technologies and products.
“This investment is crucial in helping Beryl build upon the success we have already had in encouraging more people to take up sustainable travel options, reducing harmful carbon emissions and traffic congestion while improving air quality and public health”,
said Philip Ellis, chief executive and founder of Beryl.
The funding will also allow the business to develop its e-scooter technology and new e-bike models, including its connected technology, which provides Beryl with the real-time status of the rider and vehicle, using onboard sensors.
Brooke’s research found that cyclists using Laserlight were 32% more visible to drivers, eventually leading to the technology being adopted by bike hire fleets in New York, Montreal and perhaps most notably London, where they can be seen on any Boris Santander bike today.
The company now runs its own bike hire service, offering e-bike, e-cargo bike and e-scooter services at locations across the country including Norwich, Watford, Hereford, Bournemouth, Isle of Wight, Hackney, Greater Manchester, Cornwall and the Solent.