OKAI
Chinese e-bike and micro-mobility hardware manufacturer; took minority equity stake in Forest.
Last refreshed: 1 May 2026 · Appears in 1 active topic
Why has OKAI taken an equity stake in the e-bike operator it supplies?
Timeline for OKAI
Took minority equity stake in Forest as hardware supplier
UK Startups and Innovation: Forest closes £40m for London e-bike push- What is OKAI and what does it make?
- OKAI is a Chinese e-mobility hardware company founded in 2017 that manufactures e-bikes and e-scooters for shared operators worldwide. It both sells under its own brand and builds OEM hardware for operators like Forest in London.Source: OKAI public record
- Why does OKAI own shares in Forest e-bikes?
- OKAI took a minority equity stake in Forest as part of the April 2026 £40m Series B. As Forest's hardware supplier, an equity position aligns OKAI's interests with Fleet growth: more bikes means more hardware revenue and equity upside.
- Is OKAI the same company as the e-scooter brand?
- Yes. OKAI manufactures both the e-scooters it sells under its own label and OEM hardware for third-party operators. Its products appear under various brand names depending on the operator.Source: OKAI public record
Background
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.