Tyred Raises £2.5 Million to Build an AI-Powered Ownership Platform for Cycling

• Digital platform combines maintenance, repairs, insurance and finance into one connected experience
• Investment to support product development and expansion across UK and Europe
• UK-based VC firms Raw Ventures and Ada Ventures are key investors, alongside Dwelly’s lead investor Anton Buzdalin

British mobility tech startup Tyred has raised £2.5 million to make bike ownership simpler, smarter and more reliable for riders and fleet operators in the UK and across Europe.

To do this, Tyred is building a connected ownership platform for cycling, bringing together maintenance, repairs, insurance, warranty management and finance into a single digital experience.

Cycling has become an increasingly important part of urban transport but unlike for cars the ownership experience remains fragmented, with riders often relying on disconnected providers for servicing, insurance and repairs. Tyred aims to solve that issue through an all-in-one platform that stays with riders and their bikes throughout the lifetime of ownership.

This service will be supported by proprietary IoT devices embedded within bikes and collecting real-time performance data that powers predictive AI models. The technology enables wear-and-tear monitoring, proactive maintenance and richer insights that could ultimately reduce insurance costs and improve reliability for riders.

Tyred has already established one of London's largest specialist bike maintenance operations, servicing more than 100,000 bikes over the past year. Among its customers is shared mobility operator Lime, for which Tyred provides maintenance and battery-swapping services across a fleet of around 50,000 bikes in London.

The new investment will accelerate product development, support expansion across the UK and lay the foundations for European growth as Tyred scales its platform for both consumers and commercial fleet operators.

The funding round includes investment from venture capital firms Raw Ventures and Ada Ventures, alongside a group of angel investors, including Anton Buzdalin, who was the lead investor in London proptech startup Dwelly.

Lancelot Hoare, Co-Founder and CEO of Tyred, said:

"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. By combining real-time data with predictive technology, we can help riders solve problems before they happen and make cycling simpler, smarter and more reliable."

Nikita Baranov, Co-Founder and COO of Tyred, added:

"Cycling has become a core part of how modern cities move but the infrastructure supporting bike ownership has remained largely unchanged for decades.

“For cycling to keep growing, riders and fleet operators need the same level of reliability, service and support that already exists in other forms of transport. That means moving away from reactive repairs and fragmented ownership services towards a more connected, preventative model.”

Daniel Bursztynski, Co-Founder and CTO of Tyred, commented:

"This investment gives us the opportunity to build the technology that underpins the next generation of cycling, helping riders and fleets keep more bikes on the road while creating a better ownership experience for everyone."

Tyred is building this because a bike should never be the reason someone doesn't ride. You can now book mobile maintenance on our website.