Navigation for two wheels. A vision to make journeys better for everyone.
- £7m in revenue since launch in 2017*
- Userbase of over 100k riders
- Collabs with top brands Triumph, Tier Mobility, Morgan and Bo
- Over 5,000 reviews, with an average score of 4.6 out of 5 stars
We are Beeline, and we make bike rides better through navigation technology for two wheels. By two wheels we mean bicycles, e-bikes, e-scooters, mopeds and motorcycles.
For us, it all comes down to one question - what makes a great bike ride? In our opinion so much of that comes down to the route you take. This is why we strongly believe that if you can build great navigation technology you can unlock better bike rides for everyone.
In recent years the world has turned to two wheels as an answer to many of its problems ... now we have better cycle infrastructure, e-bikes and e-scooters, shared micro-mobility, cargo bikes - travelling on two wheels is really taking off, whether for leisure or for transport, and we hope to play a part in that future.
The experience of riding a bike, scooter or motorcycle can be absolutely fantastic for everyone - join us in building technology that helps that happen.
Substantial accomplishments to date
We have designed, developed and launched three navigation devices:
- Beeline Velo (2017) - for cyclists
- Beeline Moto (2019) - for motorcyclists
- Beeline Velo 2 (2022) - for cyclists
Powering our devices we have a native mobile app on both iOS and Android, which we have recently made usable standalone without a device. Since launching in 2017 the app has had over 200 updates delivering new features or software improvements.
In 2020 we developed a pilot software product for integrated B2B app use, where our routing can be accessed via an API and the navigation interface delivered through an SDK.
With the support of the European Space Agency we built our own routing system to supply the route suggestions to our apps. This includes a patented methodology where user's road ratings are gathered and incorporated into the route suggestions
We sell through both D2C and retail channels. We've sold directly to over 90 countries, and have over 20 distribution relationships globally.
We have a userbase of over 100k riders and the community has done over 1 million rides using Beeline technology. We have over 5,000 App Store and Google Play reviews, with an average score of 4.6 stars.
We have partnered and provided navigation for several global brands: Triumph Motorcycles, Morgan Motors, Tier Mobility and Bo Scooters.
We've raised £1.1m of funding in equity to date and with that generated over £7m in revenue*.
Ultimately we are working towards three revenue streams for the business:
1. Sales of devices (B2C). This stream is already established and constitutes the majority of our current revenue
2. App subscriptions (B2C). This is planned to launch within the next year
3. Integrated navigation services (B2B). We have one live contract here (Tier) and with several others in discussion
Use of proceeds
The money raised from this round of investment will be deployed in three areas:
1. Continuing to scale and grow our device business - here we will increase our investment in new product development and intend to activate the brand and our sales channels in more markets around the world
2. Establish a business model around the mobile app. Many people already use our navigation system without a device, using our app with their phone mounted on the handlebars. We plan to grow and monetise this channel by introducing a premium tier of features.
3. Build on the early traction we have in partnering with other businesses to offer our system integrated within their product. We plan to invest further in our technology to make it easy for others to integrate into their products, and establish a pricing model and sales pipeline to drive growth and profits from this area.
The company has the following outstanding loan:
£250,000 loan from HSBC at an interest rate of 2% per annum. The loan is to be repaid by 2027.
The company has the following outstanding convertible loans, which is intended to be repaid after the round:
£73,000 loan from a private company, with the following key terms:
Interest rate: 8%
Share class: ordinary shares
The funds raised from this investment round will not be used to repay these loan.
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