An East Kilbride-based firm behind a lightweight e-bike motor is moving into production and adding jobs following the completion of a £1.65 million funding round.
The funding injection, led by investment syndicate Kelvin Capital, will accelerate the production of units from FreeFlow Technologies’ (FFT) production line in 2022, ready to be sold into the fast-growing e-bike sector.
Chaired by Martin McCourt, former global chief executive of Dyson, the business completed a previous funding round in November 2020, securing £1.85m, which saw the firm move to new headquarters and research and development (R&D) facility in East Kilbride and adding senior technical positions and assembly engineers. The company also raised £1.8m in October 2018.
The latest funding, which was also supported by Equity Gap, Scottish Enterprise and many private individuals, will see additional staff recruited across electrical and software engineering, process engineering and design.
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