Buzzbike, a London-based bicycle manufacturer, is seeking £350,000 through its Crowdcube campaign has it prepares to launch a sponsorship platform specifically for bike brands.
The company, which has formed a partnership with Cooper (the brand behind the Mini Cooper), will offer riders a leased free premium bike 24/7 and in return, riders will commute to work at least 12 days per month and street park it when they get there.
“Bikes now account for a quarter of vehicles in central London, rising to up to 64% on specific routes at rush hour. If you assume that bikes are parked for an average of eight hours a day, in some of the most desirable outdoor advertising locations in the world, it is clear to see that they represent an undeniable gap in the outdoor advertising space. Buzzbike is seeking to exploit this opportunity by building a network of branded bikes at the heart of the city.”
Cooper is set to design, test, and manufacture a premium single speed bike complete with lights, lock, annual servicing, and insurance. Buzzbike explained more details about the riders’ responsibilities.
“Our app and technology platform leverages Beacon technology to track bike usage. Each time a rider gets on the bike, their phone connects to the in-built Beacon. This provides Buzzbike with micro-location data to track the rider’s journeys and to ensure they are hitting their targets, as well as reporting anonymised data to clients, providing valuable audience insight, effectiveness and return on investment.”
Funds from the campaign will be used for developing the Buzzbike app and rider tracking technology along with the first shipment of bikes (some funds will also be contributed to the second order of bikes). The company recently announced since its platform’s launch; it has received over 1000 rider applications.
So far, Buzzbike’s campaign has secured over £80,000. It is set to close at the end of June.
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