Business

Partnerships, acquisitions and investment news throughout the cycling industry

Sigma Sports launches new e-commerce site, reports sales surge in April

Sigma Sports has introduced a new website, aiming to bring an improved shopping experience to customers. The updated design offers simplified navigation menus and checkout as well as detailed product gallery features. In addition, shoppers will have the chance to speak with expert store staff through live chat and video …

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Bikmo secures £1.8 million in Series A funding

Bikmo has secured £1.8 million in Series A funding. The investment is led by Development Bank of Wales, alongside specialist global insurer Hiscox, plus existing and new angel investors. Bikmo uses innovative technology to simply offer comprehensive insurance for riders, with a focus on exceptional customer experience delivered through a …

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IRC launches online directory to promote small shops still open for business

The Independent Retailers Confederation (IRC) has launched ‘We are open’, an online map and directory of independent shops that are still open and operating responsibly during the COVID-19 pandemic. Under the Government’s guidance, some high street retailers have been able to remain physically open as a ‘notable exception’ whilst others …

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OnBuy named ‘UK’s fastest-growing company’ by SimilarWeb report

An online marketplace has been crowned the “fastest-growing company in the UK” by an independent report. SimilarWeb’s April report shows OnBuy.com, having seen over three million monthly visitors in April alone, ranking as the fastest-growing company in the UK when considering companies with more than 250,000 monthly visitors. In addition, …

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VanMoof attracts £11 million investment from Balderton and SINBON

VanMoof has announced a total €12.5 million (£11 million) investment from venture capital firm Balderton Capital and assembly partner SINBON Electronics. The funds will support the brand’s international expansion as it scales up to meet increased demand. The investment follows the launch of the new electric VanMoof S3 and X3 …

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eBay extends free ‘online shop window’ offer for new small businesses

eBay has extended its offer of a ‘free online shop window’ for new businesses joining the platform for a further two months. It means that eBay will continue to waive fees to list or sell for new business joining eBay UK until 31st July 2020 or for 90 days after …

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Swytch “inundated” with order requests for e-bike kit

Swytch Technology has said it has been “inundated” with order requests for its e-bike conversion kit, following the UK Government urging people to cycle. The waiting list to order a Swytch kit now exceeds 100,000 people and production has had to be increased to meet the growing demand, the company …

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LEVA-EU says ‘blanket’ EU regulation ‘choking’ LEV sector

LEVA-EU is calling for an “urgent” change in EU regulations it says are “seriously hindering manufacturers”. The advocacy group said the issue has been brought into focus as a result of the COVID-19 pandemic, with cities across Europe encouraging use of more light, electric vehicles (LEV), such as e-bikes, as …

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Lime acquires Jump’s business operations, secures additional financing

Uber is leading a $170 million investment round in Lime with participation from Alphabet, Bain Capital Ventures, GV and other investors. As part of the investment, Lime has acquired Jump’s business operations and will further expand its mobile app integration with Uber. In addition, the company has promoted Wayne Ting …

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Halfords offers to check more than seven million neglected bikes for free

Halfords is today launching a nationwide initiative aimed at the seven million British adults who have bicycles ‘languishing’ in sheds and garages. The ‘Get Back On A Bike’ campaign is designed to encourage these cyclists to consider cycling when they return to work. Halfords stands ready to perform a free …

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