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In the world of AirBnb and Uber, there is no question that consumers are in search of more convenient, cost-friendly and environmentally conscious travel options. We sat down with CEO of global bike sharing platform Cycle.land, Agne Milukaite to discuss the company’s vision to transform urban transportation for the benefit of commuters in some of Europe’s largest cities.
In your own words, what is Cycle.land’s vision?
When I first started Cycle.land, the idea was very much a manifestation of my own personal experience growing up and cycling from A to B. Now however, the goal is much larger – we want to meet the needs of the growing populations that are in search of more sustainable and active transport options in their efforts to combat congestion, air pollution and physical inactivity. Cycling brings a lot more fun into the inevitable commutes within populated cities, and this is essentially the crux of our mission as a business.
Furthermore, now that we have partnered with Youon, the world’s largest bike sharing provider to launch in London, Paris and Berlin, our vision to dominate the European shared mobility market is well within reach. The proceeds of this equity crowdfunding round will help us to launch dockless bike sharing fleets in those initial cities.
What is the most important thing have you learned from your sharers, riders and team so far?
More than anything, we’ve learned the power of a shared passion for activity. It’s always inspiring to see the smiles on our users’ faces when they get the bike they want and can ride off feeling the small but impactful success of getting where they need to be without compromising on cost or efficiency. It’s very rewarding to make a difference both for the people around us and the environment through the power of smart transport.
What have been Cycle.land’s most significant successes and challenges so far?
There are three things in particular that I’m very proud of. The first is our effort to work with local authorities on code of conduct to shape how bike sharing operates. While other bike sharing companies have generally struggled to coordinate with local authorities, we have proven ourselves to be a trusted partner in the cities in which we operate. Secondly, we now run profitable dockless bike sharing schemes and lastly, we just successfully closed a deal with the biggest shared bike provider, that recently closed a round to expand its dockless bike sharing operations.
And thirdly, despite our many achievements, it’s always a challenge to maintain a positive Cycle.land culture in order to keep day to day operations running smoothly and productively. While it’s easy to be positive and passionate in an environment when the pace is manageable, things can get trying in the face of high intensity projects and stressors that inevitably come to surface in a high performance environment. This market moves very quickly, but luckily as a team, we’re always ready to embrace new opportunities while commiting to staying driven, focused and kind to those around us.
Where do you see the most growth potential in the near future within your industry?
The shared micro-mobility market is increasingly one of the most exciting industries to be involved in. Last year alone, we saw some of the fastest growing unicorns, billion-dollar exits and consolidations. Similar to many up-and-coming industries, we believe that providing a product that people love (bike sharing, scooter sharing etc.) is just the first phase. From this point onwards, the most exciting opportunity is figuring out how to deliver this product on both a large and financially sustainable scale. The future will be very much defined by companies like ours, dedicated to facilitating and transforming the way people move.
To find out more and invest, visit Cycle.land’s campaign here.