Overfunding: Beeline Secures £100,000 Through Latest Seedrs Round

UK-based smart navigation for bikes brand Beeline has successfully secured its initial £100,000 from nearly 250 investors through its latest equity crowdfunding round on Seedrs.

 

Beeline’s describes its products as beautifully designed, affordable pieces of connected navigation hardware for urban cyclists that notably makes it easier, safer and “more enjoyable” for cyclists to get around on a bicycle. The company has reportedly built prototypes and has received over 4,000 pre-orders in over 40 countries. Last year, the company was also in the final stages of setting up mass manufacturing in the country of China and reported that the next step is to scale up fast once in full production. Beeline’s system has the following:

  • Battery that lasts for 1-3 months of use between charges! (Based on 20-60 minutes of use every day)
  • Tells time when the user is not using it for navigation
  • Visible in all weather conditions
  • Fits onto any bike using its flexible strap
  • Display can be rotated to work whether attached to the handlebar or stem.

The company previously raised funds through Kickstarter. The launch of this funding round comes less than a year after Beeline raised more than 500,000 on Seedrs. The company reported:

“At the core of BeeLine is the stripped back concept of fuzzy navigation. In the city, being told which turns to take is a hindrance, not a help, so BeeLine simply points you in the general direction to your destination and tells you the distance to go – no instructions. Imagine a compass that knows where you want to go and points there instead of north.”

Funds from the latest round will be used to continue Beeline’s expansion.


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