Maeving raises £11m Series A led by Venrex and Future Planet Capital to scale US expansion

British electric motorcycle manufacturer Maeving has secured £11m in Series A funding to expand its international presence, particularly in the United States, and to strengthen research and development.

The round was led by Venrex and Future Planet Capital, with participation from Elbow Beach Capital, John Ayton and Simon Hill-Norton, alongside a £3m facility from HSBC UK. The funding will be used to scale Maeving’s US operations, which already account for 40% of 2025 sales, and to enhance its R&D capabilities.

Maeving currently produces two models, the A1 licence RM1S and the AM-compliant RM1 retro naked. The RM1S won MCN’s Best Urban Electric Award for 2025. Revenues quadrupled to £5.9m in 2024, with year-to-date 2025 sales up 120%.

Almost 75% of Maeving’s components are manufactured in the UK, and the company has also secured £1.1m in grant funding from Innovate UK and the Advanced Propulsion Centre.

We have assembled a highly experienced team, designed multiple market-leading products, and we have built a scalable manufacturing operation. Now this funding, alongside facility from HSBC UK, gives us the fuel to make Maeving a global brand. We are looking to grow our market share in the US, where we are seeing extraordinary demand, and to further develop our R&D facilities to enable us to continue disrupting and innovating in this fast-growing transport sector. It’s a very exciting time for Maeving.

Will Stirrup, Co-founder

At HSBC UK, we’re committed to helping ambitious businesses grow through practical, well-structured financial support. This facility reflects our belief in Maeving’s potential and we’re looking forward to continuing the partnership as they enter into new markets and invest further in their R&D capabilities.

Andy Farmer, Relationship Director at HSBC UK

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