OKAI

OKAI is a Shenzhen-based e-mobility hardware manufacturer producing e-bikes, e-scooters and associated components for shared and personal micro-mobility operators worldwide. Founded in 2017, OKAI manufactures under its own brand and as an OEM (original equipment manufacturer) for operators who rebrand its hardware. The company supplies major micro-mobility operators in Europe, North America and Asia Pacific, and its hardware is deployed in thousands of cities. OKAI is backed by investors including IDG Capital and has positioned itself as a vertically integrated manufacturer covering product design, manufacturing and fleet management software.

OKAI took a minority equity stake in Forest as part of the £40m Series B in April 2026, an unusual arrangement in which a hardware supplier becomes an equity owner of one of its operator customers. The structure aligns OKAI's commercial interest with Forest's expansion: as Forest grows its London fleet, OKAI supplies the hardware and captures both manufacturing revenue and equity upside.

The supplier-as-shareholder model reflects a broader trend in capital-constrained fleet businesses, where hardware manufacturers offer equity-funded hardware deals rather than purely transactional supply contracts. For Forest, OKAI's stake signals hardware supply certainty at scale; for OKAI, it provides a reference operator in one of Europe's most visible e-bike markets, supporting its brand ambitions in the region.