Tyred secures £2.5m from Raw Ventures and Ada Ventures to build predictive AI for bicycles.
Raw Ventures and Ada Ventures led the £2.5m round, which will fund engineering hires and product development.
Tyred provides a connected ownership platform that bundles maintenance, insurance, warranties and finance for cyclists and fleet operators.
London-based Tyred has secured £2.5m in a funding round led by Raw Ventures and Ada Ventures, with participation from angel investors including Anton Buzdalin. The company intends to direct the capital towards hiring engineers, developing its product and expanding its platform footprint in the UK prior to European growth.
Founded in 2022, Tyred has evolved from a mobile repair service into a connected ownership platform that merges maintenance, insurance, warranties and finance. The firm has built its dataset by servicing over 100,000 bicycles and maintaining Lime e-bike fleets in London.
The fresh capital will enable the startup to further develop its sensors and predictive software, aiming to shift the cycling industry from reactive repairs to preventative maintenance.
From the founder
"We’re changing that by bringing every aspect of ownership together into one connected platform. By combining real-time data with predictive technology, we can help riders solve problems before they happen and make cycling simpler, smarter and more reliable,"
Lancelot Hoare
co-founder and CEO at Tyred
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
