The investment will support international growth and a relocation of the UK headquarters to Flintshire.
"We are here to support people's active lifestyles, and we want riders to know that we can cover them, plus their bike and equipment, whether on road or trail. This investment will enable us to grow and support the recreational riders as we always have, plus the new riders we can all see rediscovering the freedom and utility of riding a bike in the fresh air."
The follow-on investment from existing backers will support the expansion of the company's current facilities.
"OXGENE has once again more than doubled its revenue, with less than a 50% increase in headcount. This is testament not only to the hard work and effective management of our team here, but also to the strength of our automation platform, and our focussed, but flexible, approach to business and technology development."
EQT Ventures led the Series A round to help fund expansion into new communities such as menopause support.
"Lyle's unprecedented experience of building and scaling community-focused products will be vital as we undertake our next stage of growth in raising the bar in terms of product excellence as we enter new communities beyond fertility and motherhood"