Pedals London, an on-demand bicycle delivery service, has recently launched an equity crowdfunding campaign on Crowdcube to raise £90,000. The company, which was launched earlier this year, stated it provides eco-conscious companies and individuals with a green, hassle-free, and affordable option for delivering goods.
“We’re using the spare capacity of commuting cyclists to create an environmentally sustainable and reliable distribution strategy and are reinvigorating existing courier services with personal, old school bicycle delivery to transport products with care, precision and speed.”
Pedals London’s services price starts at £6.70 and goes up to £32. Customers can hire cyclists by specifying a pick-up location, drop-off location, and a precise time slot. The company also reported that cyclists could be hired by the house for as little as £15 per hour. It automatically calculates the quickest and safest routes for each cyclist and takes 25% of the cost of each delivery.
Pedals London estimated it has made over 2,500 deliveries so far and its best day was 102 drops. The company noted it expects to make another 1,000 deliveries per month by the end of the year. It was accepted into the accelerator program, Geovation, earlier this summer and it was given a small grant, was given office space, and general support. The company also reported that it is in talks with a few companies that are looking to integrate with it.
Funds from the Crowdcube campaign will be used for hires, which includes one new developer and business side professionals. The initiative is set to close at the beginning of December.
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