London-based Apex Rides has raised £420,000 to accelerate the development of its connected fitness platform and support a shift to an app-first, hardware-agnostic model.

The funding round included backing from FundMyPitch alongside strategic angels and venture capital investors.

Originally launched with its own bikes, the company is now positioning its platform as a software layer that works with any Bluetooth-enabled bike in an attempt to expand its market.

The firm previously raised a £3 million seed round in 2021, which included investment from former Formula 1 team boss Eddie Jordan.