Beeline raises £1m in Seed crowdfunding on Seedrs to accelerate product development and market expansion.
The routing and navigation specialists exceeded their initial target by closing a campaign backed by existing shareholders, angels and the public.
Beeline develops routing and navigation technology for cyclists and motorcyclists, delivering hardware, mobile applications and software integration. The London based firm creates intuitive navigation systems designed to improve journeys on two wheels.
Beeline has secured £1m in a Seed crowdfunding campaign hosted on Seedrs, surpassing its initial target of £800k. The funds were raised from existing shareholders, new angel investors and the general public.
The capital will be directed towards accelerating the development of the company navigation technology, growing its consumer offering and expanding into new international markets following the recent launch of its Velo 2 GPS cycling computer.
From the founder
"We are delighted with the support shown for our recent Seedrs campaign; closing the campaign with 126% of our target is excellent and highlights the public’s desire for smarter and safer routing technology"
Mark Jenner
Co-founder at Beeline
Use of funds
- 01Continue product development
- 02Expand into international markets
