LYCLE

Based in South Korea, LYCLE is a comprehensive platform dedicated to facilitating efficient bicycle shopping, offering a wide array of bicycles and accessories tailored for both individual consumers and businesses. LYCLE, founded in 2018 and headquartered in Seoul, South Korea, specializes in providing an innovative platform for bicycle shopping. The company has successfully completed 6 deals, with its most recent funding round occurring on October 27, 2022. In this round, LYCLE raised KRW 2 billion led by Laguna Investment, alongside participation from the Korea Credit Guarantee Fund and returning investor Strong Ventures.

The firm has not undergone significant pivots or changes since its inception. LYCLE primarily offers a comprehensive platform for bicycle shopping, enabling users to efficiently search for bicycles based on various criteria, including location and specifications. The product range includes electric bicycles, delivery kits, and accessories such as delivery racks and bags. Notable flagship products are the Quali Extron Pro priced at 1,650,000 KRW and the Motobello TX8 series, catering to both personal transportation needs and business delivery solutions, extending its market reach across urban and suburban areas in South Korea.

LYCLE generates revenue through direct sales of bicycles and associated equipment, focusing on customer needs in the bicycle market. The firm operates a B2C model, allowing consumers to purchase directly through their platform while also exploring partnerships with local retailers and delivery services. The pricing strategy is tailored to appeal to both individual buyers and businesses requiring specific delivery solutions, enhancing the overall value for customers. Following the funding round on October 27, 2022, LYCLE plans to utilize the KRW 2 billion raised to enhance its platform and expand its supply chain across major metropolitan areas in South Korea.

The company is expected to launch new products designed to meet the growing demand for efficient and eco-friendly transportation solutions in these markets. LYCLE's strategy aims to solidify its presence in urban regions, with specific plans for geographic expansion yet to be detailed.