Tag Archives: investment

Custom bike maker Spoon Group closes £740,000 funding round

Spoon Group Ltd has successfully closed a funding round totalling £740,000. After a private round brought in almost £300,000 in new investment, long-term debt partner and institutional investor FSE Group stepped in with matched funding through its Enterprise M3 initiative, bringing the total raised to £740,000 and valuing the bike …

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Canyon announces strategic equity investment from LeBron James and Maverick Carter’s LRMR Ventures

Canyon has announced a strategic equity investment led by LRMR Ventures, the office of LeBron James and Maverick Carter, and SC Holdings, a US-based private equity firm. The new investors will join the company’s existing shareholders, including majority holder Groupe Bruxelles Lambert (GBL) and founder Roman Arnold to support Canyon’s …

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Global sports technology platform Endurance Zone secures funding from entrepreneur and investor David Sear

Global sports technology platform Endurance Zone has secured funding from serial entrepreneur and investor, David Sear. Endurance Zone will use the cash injection to accelerate growth of its white-label rewards and data platform which is geared around driving customer engagement and retention for sports-related organisations. Its plans focus particularly on …

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Intra Drive seeking investors to bring e-bike powertrain to market

Intra Drive has set out on the next phase of bringing its innovative e-bike motor/gearbox to market. The company will be displaying its latest powertrain technology at this week’s Eurobike, which kicks off Wednesday, 13th July, in Hall 8.0, Stand G34. Orange Bike (12.0 / D23) will be displaying a …

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Bicycle insurance company Laka receives investment from Porsche Ventures

Laka has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG. This brings its Series A, led by Autotech Ventures and followed by Ponooc, a Dutch sustainable mobility investor with close ties to Pon, and ABN AMRO, to $13.5 million. Laka said it will use the …

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Kid’s bike subscription service Bike Club gears up for expansion with £16.75 million investment

Kid’s bike subscription service Bike Club is gearing up for national and European expansion after closing £16.75 million in new investment. The Bike Club, which is chaired by Mike Balfour OBE, founder of Fitness First, has now received this cash injection as part of a Series B funding round. Leading …

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Temple Cycles launches £625,000 crowdfunding campaign to grow business and fund investment in new e-bike activities

Bristol-based bike company Temple Cycles has launched a £625,000 bond offer on the Triodos crowdfunding platform to grow its business and fund investment in its new e-bike activities. Temple Cycles designs and builds high-quality, sustainable bicycles from its Bristol workshop, offering a range of bikes for all kinds of cycling, …

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Sports tech start-up Muoverti passes £2.4 million in investment

London-based sports tech startup Muoverti recently passed another million-pound milestone in funding from investors, taking the total raised to more than £2.4 million. Following the public unveiling of its pre-production prototype at London’s Rouleur Live event last November, the company said it saw a significant increase in interest from the …

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Storskogen UK takes majority stake in Extra UK

Extra UK has secured an investment from Storskogen UK, which has acquired a majority shareholding in the business. Extra UK is a leading distributor of quality cycling products and represents a number of market-leading brands on an exclusive basis, supplying cycle retailers throughout the UK and Ireland. Its carefully curated …

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Pure Electric secures £10 million inventory finance facility as customer base grows

UK e-bike and e-scooter specialist Pure Electric has secured a £10 million inventory finance facility from Secure Trust Bank Commercial Finance. Founded in 2018 by entrepreneur Adam Norris, Pure Electric now employs 284 people and retails personal electric vehicles and accessories online and in 17 stores across the UK. It …

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