BeeLine raises over £500k in seed funding to develop its cycling navigation technology.
The seed round featured backing from TrueStart, Seedrs, Seedcamp, EarlyMarket, and the London Co-Investment Fund.
BeeLine develops a Bluetooth connected navigation device and accompanying mobile application designed for urban cyclists.
BeeLine has secured over £500k in its first seed funding round to support the development of its cycling navigation technology. The capital was provided by a syndicate of investors including TrueStart, Seedrs, Seedcamp, EarlyMarket, and the London Co-Investment Fund.
The company offers a handlebar-mounted device that uses a simple compass arrow rather than turn-by-turn directions, allowing riders to choose their own routes through cities. Part of the new proceeds will be allocated towards building out the technology required to process ride data for third parties such as city planners and delivery services.
From the founder
"An exciting area for us will be in the ride data that we can gather and use to inform a range of third parties, from city planners to delivery services. Part of this funding will aid in the development of the technology needed to support this."
Tom Putnam
co-founder at BeeLine
Investor perspective
"It was clear that the founders not only understood the cycling market but appreciated the importance data plays in strengthening their business,"
Baz Saidieh
CEO, TrueStart
Use of funds
- 01Continue product development
