Tyred, a bike ownership and repairs platform, has raised £2.5 million in funding from Raw Ventures and Ada Ventures, alongside a group of angel investors. Tyred is building a connected ownership platform for cycling, bringing together maintenance, repairs, insurance, warranty management and finance into a single digital experience.
Serving both individual cyclists and fleet operators, the platform combines on-demand repairs offered by a mobile cargo bike, maintenance and vehicle tracking in one place, with repairs, service and diagnostics delivered by Tyred's own mechanic network. Proprietary IoT devices embedded into bikes collect live performance data and monitor vehicles for wear and tear, allowing maintenance to be conducted before damage occurs and reducing insurance costs for riders. More than 100,000 bikes have been serviced over the past year.
The funding takes the platform into new markets across the United Kingdom, starting with Oxford, which is now live as the first market outside London. An entrance into other countries will follow once a UK presence is built, with around 40 EU cities already meeting the launch criteria and target markets including the Netherlands, Germany, Denmark and France. Capabilities are also being built out with in-house warranty, insurance and predictive maintenance, positioning Tyred as a full-stack provider where the app, fleet platform, IoT, telemetry and financial services all run natively.
Bike ownership has not kept pace with the way people use bikes today. Riders still have to navigate maintenance, insurance and repairs through separate providers, creating unnecessary friction throughout the ownership journey. We're changing that by bringing every aspect of ownership together into one connected platform.
The goal is that Tyred becomes the single layer between you and everything your bike needs, so a rider's entire ownership experience lives in one place. We're using the data we're already collecting from tens of thousands of services to identify failures before they happen. Around 40 EU cities already meet our launch criteria.
