Tyred announced it has raised £2.5 million to build an AI-powered ownership platform for cycling, aiming to make bike ownership simpler, smarter, and more reliable for riders and fleet operators across the UK and Europe. The round was led by Raw Ventures and Ada Ventures.
Founded by CEO Lancelot Hoare, COO Nikita Baranov, and CTO Daniel Bursztynski, Tyred is building a connected ownership platform that brings together maintenance, repairs, insurance, warranty management, and finance into a single digital experience. The company said cycling has become a core part of how people move around cities, yet ownership remains fragmented, with riders relying on separate providers for servicing, insurance, and repairs. Tyred’s platform will use IoT devices and predictive AI to monitor wear and tear so riders and fleets can catch problems before they happen.
Tyred already runs one of London’s largest specialist bike maintenance operations, having serviced more than 100,000 bikes in the past year, including Lime’s 50,000-strong London fleet. The new investment will accelerate product development, grow the company’s team, and support its expansion across the UK and into Europe.
KEY QUOTE:
“Today marks an important milestone in Tyred’s journey – this investment will help us make bike ownership simpler, smarter and more reliable for riders and fleet operators in the UK and across Europe. Cycling has become a core part of how people move around cities, yet ownership is still fragmented with riders relying on separate providers for servicing, insurance and repairs, creating friction that shouldn’t exist. We’re changing that.”
Tyred statement
