Toloka.vc invested £186,000 in British e-bike rental service PLUTO
Ukrainian venture syndicate Toloka.vc has invested £186,000 in British GIN e-bikes, which is developing an electric bike sharing service under the PLUTO brand in London.
Ukrainian venture syndicate Toloka.vc has invested £186,000 in British GIN e-bikes, which is developing an electric bike sharing service under the PLUTO brand in London.
According to Economic Truth, the deal was structured as a two-year loan at 12% per annum, secured by the company’s assets, including its fleet of electric bicycles. The money raised will go towards purchasing 160 new bikes and scaling the subscription model, aimed at couriers and urban users.
The PLUTO team has set a goal for the next six months: to bring the service to 100 active customers. According to the company’s calculations, this level of load should provide approximately £200,000 in annual revenue. The next step is to prepare to attract up to £1 million in 2026 to increase the fleet to 1,000 electric bikes and develop the service infrastructure in London.
The PLUTO subscription includes monthly rental, maintenance, basic accessories and insurance. After the 12-month rental cycle, the bikes are planned to be sold on the secondary market, combining regular payments with a return of part of the asset value.
Toloka.vc was founded in 2023 by Taras Kyrychenko, Igor Shoifot and Oleksandr Kolb. The syndicate brings together over 1,800 investors and has already made 22 investments worth over $22.5 million. GIN e-bikes started in 2022 as a direct-to-consumer brand of electric bicycles in the segment up to £1,000, and in 2024–2025 refocused on subscription rental.
Previously, dev.ua wrote about how Ukrainian investment syndicate TOLOKA.vc invested in ALICE Technologies, a Silicon Valley startup that developed the world’s first AI-based generative construction simulator.
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