Apex Rides raises £420k from angels and VCs to support its software-first transition.
The investment was facilitated by FundMyPitch to help fund product development and the shift to an open fitness ecosystem.
Apex Rides is a connected fitness platform transitioning from proprietary hardware to an open ecosystem. Its software app connects with any Bluetooth-enabled exercise bike.
Apex Rides has secured £420k in funding from a mix of strategic angels and venture capitalists, facilitated by investor network FundMyPitch. The capital will support further product development as the business executes its transition to a hardware-agnostic, app-first model.
The company is shifting away from its original model of offering proprietary at-home bikes and a companion app. By opening its platform to work with any Bluetooth-enabled exercise bike, the firm aims to remove hardware barriers and expand its market reach globally.
From the founder
"Opening up Apex so it works with any Bluetooth-enabled bike is a pivotal step, it makes the experience far more accessible and unlocks a much bigger market. FundMyPitch were instrumental in closing this round, they made high-quality introductions quickly, kept momentum throughout, and helped us get the raise over the line."
Charlie Lucas
Co-founder at Apex Rides
Use of funds
- 01Continue product development
Categories
About the company
Apex Rides
Apex Rides provides an immersive fitness app that connects with any Bluetooth-enabled bike.