We are delighted to announce that the University of Oxford Enterprise Fund III has completed an investment in Cycle.land Limited, a company helping the move toward sustainable urban transport by creating a global peer-to-peer social marketplace on which to share bicycles. Cycle.land was supported by the Oxford University Innovation Incubator.
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.