Dear , 

Bicycles, like cars, are not in use far more often than they are in use; one survey estimated that the average bike is in use 44 minutes per day. Cycle.land seeks to make more efficient use of bikes by creating a platform which allows a bike owner to rent their bike to someone who needs a bike at a time when the owner is not using it. Rather like Airbnb for bikes. This should encourage more people to use bikes and hence should improve the environment.

The platform requires a minimum density of bikes and bike users to function so cities, and especially university cities, are a natural starting point for the platform. Cycle.land launched in Oxford in 2016 and provides active local support in Oxford, Cambridge and Edinburgh in the UK.  However, bicycle owners anywhere can register on the website and  bikes are listed on the Cycle.land platform in Germany, China, Canada, Lithuania and the US overseas.

The Technology

The platform is designed to make it easy for owners and providers to list bikes, bike accessories and bike services and easy for users to access. Signing up to the service is free to all. A potential user selects a bike and the time for which they wish to use it and the bike owner chooses whether to accept the booking. The prices are set by the bike owner. The handovers are then arranged by the participants (Cycle.land can provide locks).

Cycle.land verifies personal profiles and listings, can handle owner-user contact, handles payments using Paypal, and collates and publishes reviews. User and owner reviews are critical to establishing trust within the community. At present insurance is handled by the bike owner, who requests the user to agree to cover the cost of any damage incurred whilst being used by them. This represents a potential future opportunity for Cycle.land.

Development Milestones

Cycle.land has seen strong growth since launch with total users up 100% month on month. It plans to continue to expand its coverage with locations such as Brighton, Bristol and East London on the target list in the UK and with up to 20 new countries looking attractive. Cycle.land has no patents, yet, but has considerable experience and know-how with its platform and user interactions.

The Opportunity

How does Cycle.land make money? Firstly, it has contracts with various institutions, such as Oxford University Estates Services, Lady Margaret Hall and Oxford University Graduate Accommodation Office, to provide shared bike mobility services. These institutions pay  Cycle.land to provide Community Bikes to the communities supported by these institutions. Cycle.land owns and operates the bike sharing system, provides the necessary technology and actively manages the bike sharing communities.

Secondly, although at present the service is free Cycle.land is working towards a transaction fee model for owners of bike fleets listed on the site.

And thirdly, there is a strong sponsorship opportunity. Cycle.land is currently discussing a title sponsorship deal with a major global brand.

The Competition

There are other bicycle schemes in operation, most notably ‘Boris’ bikes in London, Velib in Paris, Citi Bikes in New York, etc, which are sponsored and have locking, docking stations. There are also app based, dockless ‘Chinese model’ schemes, where the bikes are found and unlocked with a smart phone. At least two of the Chinese companies have ambitions to launch in the UK and one, Ofo, has a pilot scheme in Cambridge and another, Mobike, has a pilot scheme in Manchester.

These models require large upfront investments in hardware and the latter has proved tricky to operate efficiently and has seen critical social commentary about the effects of bikes being left lying around. Cycle.land’s scheme has the advantage of utilising existing transport assets, generating revenue for people who own the assets and not requiring any physical infrastructure to support the venture.

The Team

Agne Milukaite, CEO & Co-Founder, took an MSc in Migration studies at Oxford University where she had the idea for    bike sharing. Before launching Cycle.land, she worked with a home robotics company in  Berkeley, California. She is a passionate cyclist and advocate for a sustainable society.

Peter Ebsen, COO, General Counsel & Co-Founder, has a Master of Laws degree from Columbia University and a doctorate from Munster University. Peter worked in the Regulatory & Environmental Team and the Global Climate Change Practice Group at Baker & McKenzie. He was General Counsel at the environmental startup EcoSecurities, assisting them through their IPO, secondary offering and eventual sale to J.P.Morgan. Just before joining Cycle.land, he has assisted AtlasInvest, the investment holding company of Marcel van Poecke, with managing their investments in renewable energy projects in China.

Jake Backus, Business development and sponsorship, worked as Customer Sustainability Director at Coca-Cola Europe and before that  he was Commercial Leadership Manager for Coca-Cola Europe, and Region Manager for the Americas for Jeyes Group.   He is a keen cyclist, cycling coach and a committee member for local cycling advocacy group Cyclox.

The Outlook

There is a strong case to be made for more cycling in urban areas from an environmental perspective but local authorities are struggling to encourage it without incurring excessive costs – dedicated bicycle lanes, bike parking - and it is currently a loss-making proposition for corporates. A community bike sharing scheme is potentially the answer to the conundrum.

Cycle.land has made great strides in a short period, has attracted a high level of interest from users and has the potential to become the standard for community bike sharing. We are confident that the team’s passionate advocacy of the idea and impressive achievements in realising it are the prelude to greater success.

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