Maeving, the Coventry-based electric motorbike manufacturer, secured £8 million in new funding to boost production and target international markets. The British company plans to use the investment to develop new models for commuters and women riders.
The funding round attracted backing from venture capital firms including Venrex, Future Planet Capital and Elbow Beach Capital. Angel investors joined the round, including John Ayton, co-founder of Links of London, and Simon Hill-Norton, founder of Sweaty Betty.
HSBC UK provided an additional £3 million working capital facility.
Founded in 2018 by university friends Seb Inglis-Jones and Will Stirrup, Maeving exports roughly half its bikes to international markets. France and Germany represent key European destinations, while the US has become the largest international market outside the UK.
Sales to America jumped fivefold this year compared to 2024 – despite ongoing trade uncertainties.
“The biggest challenge for all manufacturers exporting to the US has been the uncertainty for consumers. If people are uncertain about their finances, they’re less likely to spend money on a discretionary product.”
The founders drew inspiration from simple e-bikes popular in China that feature removable batteries. Their goal was combining practicality with British engineering at a premium price point.
Chinese models typically cost a few hundred pounds. Maeving bikes start at £4,995.
Technical Specifications and Target Market
The company’s RM1 and RM1S models deliver up to 80 miles on a full charge. Batteries recharge in under four hours for approximately 73p in electricity costs.
Maeving estimates powering an average UK commute of 11.4 miles daily costs just £4.20 monthly in electricity.
The brand targets new riders rather than traditional motorbike enthusiasts. Commuters and city dwellers seeking alternatives to crowded public transport represent the core market.
At 140kg, Maeving bikes weigh less than most motorcycles – making them more accessible to women riders.
“Our customers are often people who’ve not ridden loads of bikes before and have no affiliation with petrol engines. They’re not expecting vibration or noise. They want something clean, simple and easy to use.”
Production and Future Plans
Maeving employs 67 staff members, including 50 in production at its Coventry facility. The site can produce up to 11,000 bikes annually.
Inglis-Jones noted the UK isn’t known for large-scale hardware manufacturing anymore, “but motorcycle design is one of the things we are still revered for worldwide.”
The company’s head of product, Graeme Gilbert, previously worked on new product design at Triumph.
The new funding will support increased R&D investment and expanded marketing spend – particularly in overseas markets. Maeving aims to establish itself as a significant player in the electric mobility sector.
