Electric motorcycle specialist Maeving secures £1 million funding from MEIF Maven Debt Finance

Maeving, a British electric motorcycle specialist, has secured a funding package from of £1 million from MEIF Maven Debt Finance, which is part of the Midlands Engine Investment Fund (MEIF) and managed by Maven Capital Partners (Maven).

Maeving launched its British-built and designed all-electric RM1 model in June for the urban, environmentally conscious commuter. It combines classic British heritage styling with the practicalities of a modern zero emissions bike. We think it looks great. 

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The RM1 is perfect for everyday use and features a lightweight and easily removable battery. This can be charged from any plug socket and the RM1 can also be fitted with a second battery. This extends the range from 40 (64km) to 80 miles (129km). At £4,495 this is an affordable way of transitioning to emobilty and is sure to be quicker than any car in urban traffic.  

The funding from MEIF Maven Debt Finance will be used to support the business in its early growth stages. Plus, it will help with working capital to assist with the launch of the RM1 electric bike and invest in the recruitment of marketing and engineering talent.

Will Stirrup, Maeving joint chief executive, said: “We are thrilled to have received this support from Maven at such an important time for the business. The investment will allow us to scale the business quickly, getting more people onto electric vehicles at a crucial moment in the fight against climate change.”

Richard Blount, Maven investment director, said: “This is a fantastic opportunity for Maven and the MEIF to support the team at Maeving at this exciting time with the launch of the RM1, and we look forward to being a part of their growth journey in producing stylish products that support sustainable travel and challenge the future of transport.”

All photos: Maeving

Maeving was introduced to Maven by Chris Lawes, inward Investment and planning Advisor at Coventry and Warwickshire LEP (CWLEP ) Growth Hub. He has been supporting the business through signposting and introductions within the area.

Chris Lawes, CWLEP Inward Investment & Planning Advisor, said: “Coventry and Warwickshire is the home of future mobility technologies, with a long track record in design, engineering, and production excellence. Maeving’s electric motorcycles are perfect for urban travel, which also help towards meeting Net Zero targets and improving the environment.

“At the Growth Hub, we are here to help new businesses moving to Coventry and Warwickshire as well as established firms of all sizes and in all sectors with a wide range of support and information.”

The unique and affordable RM1 joins a range of electric motorcycles from more established manufacturers including Norton, Triumph and Ducati

Ian Osborne
Ian Osborne
Editor-in-Chief at ElectricDrives

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