Tyred raises £2.5M to predict bike breakdowns before they happen
What's the deal? London startup TyredDealroom has a profile for this one. Try Dealroom → has raised £2.5 million in an early VC round to build an AI platform that flags bike maintenance issues before failures occur. Raw VenturesDealroom has a profile for this one. Try Dealroom → and Ada VenturesDealroom has a profile for this one. Try Dealroom → led the round, with angel backing from Anton BuzdalinDealroom has a profile for this one. Try Dealroom →, who led proptech startup Dwelly's pre-seed round.
What's the endgame? Founded in 2022, Tyred started as a mobile bike repair service and now bundles maintenance, insurance, warranties, and finance into one connected ownership platform. Its sensors and AI models are built to flag wear early — alerting a fleet operator that a battery is degrading days before it dies mid-route, for example.
Why now? Tyred has built the dataset to back the pitch, servicing more than 100,000 bikes over the past year and maintaining Lime's e-bike fleet in London. It has not disclosed the exact fleet size.
What's the money for? The capital will fund engineering hires, product development, and a UK expansion, ahead of a push into European markets. "By combining real-time data with predictive technology, we can help riders solve problems before they happen," says co-founder and chief executive officer Lancelot Hoare.
What could go wrong? Rivals compete hard on single slices of ownership. Laka, a London insurtech, has raised tens of millions including a £14.1 million Series B for bicycle insurance, while Zoomo has raised $100 million building e-bike fleets and software for delivery operators.
The signal: The £2.5 million round sits at the smaller end of the market, in the seventh percentile by amount. But Tyred is betting the market moves toward connected ownership: the global bicycle-sharing market was worth $9.26 billion in 2024 and is projected to reach $16.44 billion by 2030, a 10.2% CAGR, according to Grand View Research.
Read more: Tech Funding News
