With its Seedrs campaign set to close later this week, social marketplace for bicycle sharing Cycle.Land has successfully secured more than £400,000 from over 215 investors.
Founded earlier this year, Cycle.Land received support from Oxford University Innovation Incubator and launched in Oxford shortly after. The website claims to have 100% month-on-month growth in total users. Its web-app enables UK members and international travelers to borrow bikes from local cyclists, families, and vendors, from as little as £1 per day. The Cycle.Land team revealed:
“At the core, we are a peer-to-peer bike sharing community, like Airbnb for bikes. We provide a platform which makes it easy for anyone to share their bikes with one another. Also, we facilitate the design, setup and operation of smaller bike sharing schemes. These can take many different forms. We help entrepreneurs to operate their own bike sharing schemes with 5-50 strategically placed bikes. For closed communities (universities, companies’ campus) we design, setup and operate bike sharing schemes for their staff and students.”
Roy Azoulay, head of Oxford University Incubator, previously stated:
“cycle.land is leading the way at Oxford University Innovation as our first company to launch an equity crowdfunding campaign. Agne and her team are true visionaries, and have already been incredibly successful at turning their idea into a revenue generating business and a service that is cherished by an enthusiastic and loyal customer base here in Oxford.”
CEO and Co-founder of Cycle.Land, Agne Milukaite, then commented:
“Our mission is to get people cycling. Zipcar, Drivy, Tesla and Uber are all exciting, fast-growing companies that are making a difference in how we move. But as a society, we are in trouble if innovation is solely focused on cars. With Cycle.land, we’re building a sustainable company focused on shared bike mobility that is at least as disruptive as car and ride sharing companies. Shared bike mobility is the next great disruptor in urban transport. Amsterdam and Copenhagen today offer a glimpse at the future of urban mobility everywhere. Just like there, we believe the majority of short trips in urban areas will be made on bikes. We are delighted to be raising on Seedrs with Seedrs and offer our members the chance to own part of the company at seed stage and share in its future success.”
Cycle.Land’s Seedrs will close on Thursday.
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