Since Beeline opened itself up to the public a couple of weeks ago the campaign shot to their target and beyond. It now stands at 110%, giving Beeline the funds to keep pushing in their quest to create the simplest cycling companion.
You still have a chance to join over 300 investors but hurry - their Seedrs campaign closes at midnight tonight. Ride with them!
London based cycling tech startup, Beeline, launches a fourth crowdfunding campaign to focus on the cycling community, and fuel growth.
Beeline, the connected navigation device, has launched a fourth crowdfunding campaign, with an emphasis on community. Started by founders Tom Putnam and Mark Jenner in mid 2015 when the two friends were fed up of getting lost on their bikes, the device simply gives the user the general direction in which to head, rather than prescribing exact routes.
Community and the creation of an ecosystem through cycling is the focus of the next campaign. Through group rides from London to the Suffolk coast, and various routes across the city, the device has already created a society of Beeliners who share journeys and photos through the Beeline blog and social media platforms. (Links: Blog ; Instagram ; Facebook ; Twitter).
Putnam says, “Community is at the core of everything we do. It’s only through the Kickstarter community that we were able to start and it’s where we want to take the product in future. To not just make gadgets, but create a whole ecosystem where people can help each other have great journeys, inspiring each other with ideas and sharing their experiences. To do that, we need people to be really engaged, so the more we can invite them into our story the better.”
Today Beeline’s story continues with their fourth crowdfunding raise; with a target of £100,000 through Seedrs in return for equity, where the funds will be used to fuel their expansion, particularly their distribution internationally. The device is already stocked on Amazon , Harrods, Evans Cycles , Halfords , Wiggle and Firebox.
Crowdfunding has risen in popularity in recent years, with high profile businesses such as Scottish Brewdog famously being built on the backing of community. As with any startup investing, it does of course carry risks.
Jenner says, “The nature of startup investments is that they have the potential to provide very high returns, but the flip side of that is they are also very risky. This isn’t a feature of crowdfunding but the asset class. To suggest that normal individuals shouldn’t be exposed to this is a little patronising. This would put us back in a position where only those with vast reserves of capital can enjoy the potential upside exactly what crowdfunding has served to democratise. People absolutely need to go into startup investments with their eyes open and aware to the risks, but as long as they do, I think this is a very positive shift.”
Such risk-taking in the first place through crowdfunding campaigns saw the start of Beeline’s journey.
Putnam says, “At the very start it was just the two of us, learning how to code and dusting off design skills from a half forgotten engineering course. We quickly realised we’d need outside help if we were to progress quickly.”
They ran a private fundraising campaign through Seedrs, inviting close friends and family to invest in the idea. This gave them the £60,000 they needed to work with industrial design agency Map Project Office , allowing them to launch on Kickstarter in November 2015. Kickstarter was their second Crowdfunding campaign; this time giving backers first access to the product, rather than equity in the business. They hit their £60,000 target in three days and went on to raise £150,000 from over 3000 backers. This put them in the all time top 0.2% of Kickstarter projects.
Jenner says, “Kickstarter is an incredible community and resource, without which, so many innovative new products coming onto the market these days simply couldn’t exist. Not only does it give you the capital required to bring a product to market, it validates or invalidates your idea, telling you whether there is demand, before you commit years of your life to a project.”
The success on Kickstarter peaked the interest of London’s VC community, allowing them to raise £500,000 in the summer of 2016, with major investments coming from the likes of Seedcamp , Earlymarket , TrueStart and the Mayor of London’s London CoInvestment Fund. However, Putnam and Jenner actively chose to set aside approximately a third of the round for
crowdfunding once more, citing their emphasis on a wider cycling community.
The latest Beeline campaign is now open on Seedrs.com where anyone from within the EU can invest from £10.
Beeline is now available to buy in three different colours through their own website (beeline.co), Harrods, Amazon, EvansCycles, Halfords, Wiggle and several others (full list at https://beeline.co/pages/stockists).
The Beeline device retails at £99 and the app is free to download for iOS and Android.
Please find high resolution product and founder images here or at http://beeline.co/press
For more information or interviews, please email [email protected]
The key features of Beeline include:
● The Beeline app – Available for iOS and Android, it’s simple and user-friendly. Just select the final destination and you’re ready to go. If you need to go via a certain place, you can add as many waypoints as you like to your route with a simple drag and drop.
● Sunlight readable, backlit display – An epaper screen gives you crisp, clear information in all light conditions. A backlight for night riding means you can still find your way in the dark.
● Water and shock resistant – The Beeline device is water resistant, and is encased in a tough silicone attachment mechanism, so will stay put even over the bumpiest of terrain.
● Supercharged – The 350mAh battery is USB rechargeable, and will last for four weeks of regular use before recharging is required. A small icon on the Beeline screen lets you know when you’re getting low.
● Electronics – The Beeline device houses a magnetometer, accelerometer, gyroscope and a Bluetooth receiver. The sensors are used by the device to constantly recalculate your location as you cycle and keep you pointed in the right location.
● User-friendly design – Beeline is designed to fit with your lifestyle, not just while you’re riding, but also when you take it off the bike at the end of your ride. No difficult shaped equipment to carry around, just clip it onto your bag or keys. You can even use it without your bike.
June 2017: Earlymarket LLP, an incubator and investor in early stage companies, has announced its investment in Digital Risks, a new digital-first insurance provider for technology and media businesses. The family office was impressed by Digital Risks’ mission to disrupt the traditional insurance structure, whilst protecting startup and SME businesses more effectively against the rising threat of cyber-crime and data breaches.
Digital Risks specialises in solving the insurance needs of digitally focused startups and SMEs using a quick and simple online platform. The team has developed its own unique broking infrastructure, automating and simplifying the process of buying and managing business insurance. This allows Digital Risks to offer its customers more competitive pricing and better products, all through one seamless transaction.
Policies offered by Digital Risks include public liability, employer’s liability and contents insurance, as well as more specialist cover such as professional indemnity and cyber liability. All products are sold as a monthly subscription, rather than an annual commitment, giving fast-growth businesses the flexibility to change or cancel their cover at any time.
With the Earlymarket’s founder having a background in insurance, Earlymarket LLP sees this exciting insurtech company as a valuable addition to its portfolio, and is committed to supporting the company’s rapid growth. It has already taken advantage of Digital Risks’ unique offering, by obtaining its own insurance policy, ensuring its in-house ventures are fully protected.
Cameron Shearer, CEO and Co-founder of Digital Risks, commented: “The industry needs to evolve in so many ways, from distribution to customer engagement,” he continues. “With Digital Risks, we’re shaking off its negative reputation and making insurance work for the customer. That’s why we’re so excited to be partnering with Earlymarket. They immediately understood our goals and want to actively support us in creating genuinely innovative products for modern business insurance customers.”
For more information and special offers visit our website http://www.earlymarket.com/investments.html
Earlymarket's invested in OFF3R in 2016 and they are happy to see it be named one of the top 100 startups in the UK by startups.co.uk. For the full article and future plans from the CEO Lex Deak click on the link below.
Aviation entrepreneurs, charter operators, training schools, operations management companies, and navigation apps can now all plug in to the Helipaddy API to utilise the unique self-moderating and information-rich database.
Helipaddy’s mobile apps and web platform are used by thousands of pilots from around the globe - but has humble beginnings here in the UK, founded in 2014 by two british heli enthusiasts who simply wanted to know where to land. Fast forward to today, and contributions from the growing Helipaddy community have led to massive expansion of the Helipaddy database beyond our shores, with over 10,000 pads giving coverage in most countries around the world. Helipaddy is proud to announce that they are now giving aviation companies operating in the UK access to the most complete landing site database ever compiled, through their commercial API.
There is a free tier for those only needing data on ICAO-code aerodromes and the levels of access scale up through to enterprise access subscription to the entire Helipaddy database. By providing this information at low (to no) monthly cost, Helipaddy hopes to help promote the modernisation of the UK aviation industry and allow for innovation and growth within the sector.
All tiers of the API are designed to optimise searching for heli-friendly sites by specific coordinates, with user only requiring coordinates and a radius to search within. API consumers can also easily build maps of any region. More information is provided at helipaddy.com/about/API for those interested in leveraging Helipaddy’s work for their own endeavours.
To connect to the Helipaddy API, you can get in touch with the Helipaddy team on 020 3637 7595, or send them an email at [email protected]. For operators and those who manage helipads and landing sites around the country, please get in touch with Helipaddy to ensure your site is marked as allowing commercial landings so that you can benefit from the exposure generated by the API feed.
A strong final four months to 2016 helped the P2P lending sector grow by 38% on a year by year basis. The industry was able to shrug off the uncertainties caused by economic and industry turmoil in the earlier parts of the year to continue to prove industry sceptics wrong. The total lent by the 9 platforms that form the OFF3R Index was £2.6bn, up by approximately £700m from 2015.
The drop in interest rates in August 2016 seems to have acted to spur the P2P lending sector on as investors looked for alternatives to traditional savings accounts. Furthermore, the gradual rollout of the Innovative Finance ISA since its introduction in April has also contributed to the increase in the total amount lent. There are now 10 platforms cleared to issue the product that offers investors the ability to wrap P2P lending investments in to a tax free ISA.