Following an internal restructuring after the challenging recent economic conditions faced by the bike industry, Gocycle has launched an equity-based crowdfunding campaign to recapitalise the company and expand its new range of models.
Aiming to lead and define the premium urban folding bike market, the company is broadening its model range into cargo, non-electric folding, and non-folding compact wheels.
Gocycle designer and founder Richard Thorpe said: “Since 2020, the bike industry has been in turmoil, and many bike companies, sadly, have not survived.
“Early in 2024, we had to wave the white flag and restructure to realign our company for the market recovery, which most in our industry expect will start in 2025.”
With this in mind, Thorpe believes that what founders, creators and small businesses do now “matters more than ever”.
He continued: “Institutional capital has fled most industries building electric vehicles, including large EV car companies, EV motorcycles, large bike companies, as well as small pioneering innovators like Gocycle.
“I believe crowdfunders and the people who actually use the products we make understand our business, our mission, and the incredible power of pedals to a deeper extent.”
As such, Thorpe is excited to turn the page on the next chapter of the brand.
He added: “The long-term trends for the bike industry are strong because cities continue to invest in cycling infrastructure.
“Gocycle is poised to lead and define the fast-growing urban compact wheel market segment with our incredible range of OneDesignDNA urban folding bikes.”
Gocycle also plans to engage other crowdsourcing platforms to promote and launch some of its new 2025 and 2026 model ranges using Kickstarter.
The company launched and delivered its GS model Gocycle in 2017 on Kickstarter.
Thorpe concluded: “Crowdsourcing has evolved significantly over the past decade and is being used more and more by small and large companies who want faster and more efficient access to capital, as well as a deeper engagement with their customers.
“The combination of democratised capital raises and the promotional amplification that crowdsourcing brings is a powerful force for challenger brands.
“Increasingly, crowdfunding is being co-opted with other more traditional sources of capital.”
