BeeLine secures £500,000 to make cycling navigation easier
App which operates via Bluetooth connected handleba device backed by TrueStart, Seedrs, and mayor's London Co-Investment Fund
BeeLine, a Bluetooth-enabled compassed device which can be connected to your bike’s handlebars to tell you which direction to cycle in, has closed a £500,000 seed round.
Investors included London Co-Investment Fund, TrueStart, and crowdfunding platform Seedrs.
Tapping into the burgeoning bicycle accessories market, BeeLine claims its app is unlike traditional turn-by-turn navigation devices as it enables urban cyclists to find their own routes – using the app as a directional guide rather than a route planner.
The data collected from cyclists finding their own routes can then be fed back to city planners to create more efficient smart town planning.
The start-up has said it will use the investment to “make a bee line” to expand its tech team.
Mark Jenner, co-founder of BeeLine, commented: “We’re operating in a fast-growth market and while our initial focus is in scaling the product in key regions, we’re also focusing on expanding the tech expertise within the business to ensure we’re continually developing the user experience.
“It’s important to us that the way our users interact with BeeLine is ever more compelling and engaging.”
Deputy mayor for planning, regeneration and skills, Jules Pipe, added:
“London is open to some of the planet’s most entrepreneurial minds and I am pleased that this fund has helped BeeLine bring this innovative product to market, helping to make the capital an even greater city for cycling.”