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Cycle.land raises £200k to continue their bike sharing journey

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by Startacus Admin

Cycle.land
Cycle.land, the bike sharing marketplace unlocking the assets of unused bikes, has raised over £200k thanks to its highly successful 2nd equity crowdfunding campaign on Seedrs and now prepares to bring 1000's of bikes, e-bikes and e-scooters to Europe.

Cycle.land is on a mission to disrupt urban transport.

Founded in 2016 by Agne Milukaite and Peter Ebsen in Oxford, Cycle.land operates thousands of bikes across Oxford, Cambridge, and London. The company has expanded from peer-to-peer bike sharing into launching and managing operations for bike sharing unicorns like ofo and Mobike. Most recently, the company announced a Joint Venture with Alibaba backed Youon.

Bike sharing marketplaceNow, Cycle.land, the bike sharing marketplace unlocking the assets of unused bikes, have announced that they have raised over £200,000, thanks to its highly successful second equity crowdfunding campaign on Seedrs. Cycle.land had originally set their funding target on Seedrs at £100,000, however due to high demand, the campaign has raised £203,579, from 349 investors across 28 countries.

The funds raised will be used to diversify the company’s revenue streams beyond peer-to-peer bike sharing, community bike sharing schemes and services to other bike sharing companies. Specifically, Cycle.land will use the funds to set up and operate an urban mobility platform across Europe with joint venture partner Youon.

Born out of the Oxford University Innovation incubator, Cycle.land is on a mission to help move towards globally sustainable urban transport, by making bikes easily available and affordable. As cities rapidly grow and develop, the strain on transportation also escalates, which has in turn led to congestion, pollution and physical inactivity. The Company believes that the bicycle will be a great disruptor in urban mobility, and has so far successfully completed the European launch and operation of billion-dollar mobility start-ups in bike sharing.

CEO and Founder of Cycle.land, Agne Milukatie said: “We are delighted to return to Seedrs, and the valued crowd of investors who have supported us, for the second time. We look forward to welcoming them back, as well Seedrsas attracting new investors as we move into this very exciting phase of development.” 


Interested in raising investment for your tech startup? 

Startacus are currently partnering with Seedrs - the equity crowdfunding platform with the industry's best funding success rate (74%) and who supported 186 businesses raise £195m in 2018. if you are currently at the stage of looking to raise investment, email alastair@startacus.net and we can assess if you are a potential good match for an intro call with Seedrs. 

Investing carries risks, including loss of capital and illiquidity. 

  


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Published on: 16th January 2019

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