The company secured the capital from Güil Mobility Ventures, Fen Ventures, and Triodos Bank UK to accelerate fleet growth and technology development.
"Since our initial finance arrangement earlier this year, it’s impressive to see Forest go from strength to strength as it rolls out its fleet to more London boroughs. It’s just the kind of forward-thinking company that we want to partner with, as we all work towards net-zero solutions for cities. We are proud that Forest took the opportunity of rolling out new e-bikes to drive awareness of UK waterways and generate funds in support of The Rivers Trust."
IW Capital led the Series A round to support team growth and international scaling.
"We’re pleased to be investing in Plumm as the company continues to grow in the UK and internationally. At IW Capital, we focus on backing businesses that are doing important work in growing markets, and it was clear that Plumm is well poised to expand their offering, having built a great platform to serve the underserved and expanding mental health market. We are thrilled to be working with Plumm on the next stage of their growth journey."
Northern Gritstone backed the Hull-based bioplastics developer to support team expansion and commercialisation.
"Everyday oil-based plastics are contributing to the global environmental crisis. Our vision is to offer brands an alternative product and through this transform the global plastics market. We are delighted to partner with Northern Gritstone. Their support, experience and investment will enable us to develop our team and deliver our commercial strategy."