Absolute Cycling is developing a state-of-the-art cycling computer and will enter the market in 2024.
https://absolutecycling.com/
Haarlem, Nederland
Aantal werknemers:
12
Deep tech, Hardware & Electronic Equipment, Consumer Electronics & Appliances
B2B, B2C, B2B2C
MVP/Seed Stage
Absolute Cycling addresses the need for a user-friendly, highly accurate cycling computer that simplifies the riding experience. Their device, The One, ensures ease of use with a streamlined interface controlled by just three buttons and extensive configuration through a companion smartphone app. This setup allows cyclists to focus on riding while
We are building products that are incredibly easy to use, absolute accurate and completely free of distractions. This leaves cyclists to enjoy what is most important: the ride itself. How: - Patented sensor fusion model. - World class design - Cycling specific navigation - Best readable display in business - Unique charging - Unparalleled mounts
we hebben 12 teammembers, of we nog commitments hebben? No
Market size is approximately €640 million. Cycling fanatics who spend >€3.000 on a bike and equipment. Yearly market worldwide is expected to be 1.2mln. cyclists and 494.000 in our 'target countries'. There is already a big followerbase and lot of interest from cyclists and pro tour teams.
Sales through own online webshop and retailers. Salesprice of 495 excl vat / costprice 170 Goal to sell 12.000 pieces the first 12 months, growing to 70.000 in 2028. Healthy margin, potential costprice optimalisation.
€4.5 mln. invested by business angels, subsidy's and Rabobank. Crowdfunding in 2019: 130 pieces sold just by an idea and no finished product. Gave a lot of traction, a follower base of 10.000 on the newsletter and visible on +-30 blogs & magazines.
Minimaal gezocht:
600000
Pre-money valuation:
8000000
Financieringsinstrument:
Absolute Cycling B.V.
Absolute Cycling addresses the need for a user-friendly, highly accurate cycling computer that simplifies the riding experience. Their device, The One, ensures ease of use with a streamlined interface controlled by just three buttons and extensive configuration through a companion smartphone app. This setup allows cyclists to focus on riding while
We are building products that are incredibly easy to use, absolute accurate and completely free of distractions. This leaves cyclists to enjoy what is most important: the ride itself. How: - Patented sensor fusion model. - World class design - Cycling specific navigation - Best readable display in business - Unique charging - Unparalleled mounts
– We build products with the brains of a scientist and the heart of a cyclist. – Personalized controls, cutting edge technology and an intuitive design. – Reliable and accurate data when you need it the most. – We are showing you exactly what you need when you need it. – No unnecessary distractions.
we hebben 12 teammembers, of we nog commitments hebben? No
Deep tech, Hardware & Electronic Equipment, Consumer Electronics & Appliances
IoT, AI
Market size is approximately €640 million. Cycling fanatics who spend >€3.000 on a bike and equipment. Yearly market worldwide is expected to be 1.2mln. cyclists and 494.000 in our 'target countries'. There is already a big followerbase and lot of interest from cyclists and pro tour teams.
Name: Garmin Do they have a market lead? How big is their lead?: Yes, in the high segment cycling computers it is expected they have a lead with 75% market share. What obstacles is the competitor facing that help you preserve your lead?: - Very hard to use (User experience) - No real innovation, just extending features Why/how are you different/better?: As a cyclist, the gear you use, should work for you, giving you exactly what you need when you need it. By removing all distractions we leave you with the one thing that cycling is all about: “You and your ride”
€4.5 mln. invested by business angels, subsidy's and Rabobank. Crowdfunding in 2019: 130 pieces sold just by an idea and no finished product. Gave a lot of traction, a follower base of 10.000 on the newsletter and visible on +-30 blogs & magazines.
- Production first batch of 1.000 pieces: July+August 2024 - Launch of saleswebsite / Pre launch campaign: August 2024 - Market Introduction: September 2024 - Continues updates: each 3 months - Development of V2: 2025 - Exploring new markets: 2025/2026
Competitor buyout, Company buyout, IPO/RPO
600000
1100000
8000000
I don't have a lead investor
Development, production, market launch, scale up organisation/business development.
Sales through own online webshop and retailers. Salesprice of 495 excl vat / costprice 170 Goal to sell 12.000 pieces the first 12 months, growing to 70.000 in 2028. Healthy margin, potential costprice optimalisation.
2024 (monthly costs in Euro) fixed costs: 30k Personell costs: 40k Development costs: 60k Other: 20k
After marketintroduction, we need to sell +-650 cycling computers monthly for break even.
60000
|2022: 0| |2021: 0| |2020: 60,000|| (FC) 2023: 2,846,766|
0
150000
3
400000
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