Beeline has raised more than £1 million in a Seedrs crowdfunding campaign.

Smashing its £800,000 target, the London-based company’s navigation technology is used by cyclists and motorcyclists.

Following the release of its Velo 2 GPS cycling computer, the funding round will enable Beeline – founded in 2015 by Mark Jenner and Tom Putnam, and now employing more than 20 people – to accelerate the development of its technology and expand into new markets.

The existing technology is delivered to the end-user in three ways: through its navigation devices, through its mobile app, and via API and software integrated into business customers’ apps or products – for example, a shared micro mobility scooter.

In June this year, Beeline launched the Velo 2. A complete refresh of Beeline’s original Velo device, the Beeline Velo 2 offers a brand new navigation interface, a larger display screen and an enhanced app-based route planner. 

More than 50m kilometres have now been travelled using Beeline technology.

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Beeline has previously been backed by Seedcamp and True.Global as well as The Mayor of London’s Co-investment Fund, Earlymarket and equity crowdfunding community Seedrs. It is also the recipient of grants from the European Space Agency and Innovate UK.

More than 80% of the latest target was raised from existing shareholders and new angel investors, while the remainder came from the general public.

‘’We are delighted with the support shown for our recent Seedrs campaign; closing the campaign with 126% of our target is excellent and highlights the public’s desire for smarter and safer routing technology,” said co-founder Mark Jenner.

‘’Through the help of our loyal community and investors, we’ve been granted a huge opportunity now to further develop the technology that we believe will make two-wheeled transport more accessible and enjoyable to all. 

“This is an incredibly exciting time for all of us at Beeline – watch this space.”

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