IN BRIEF
London start-up Tyred has raised £2.5 million to develop its bike maintenance platform driven by artificial intelligence. The round, co-led by Raw Ventures and Ada Ventures alongside angel investors, is intended to fund product development and the company’s expansion across the UK, before laying the groundwork for European growth. Tyred has serviced more than 100,000 bikes over the past year in London, including Lime’s shared-bike fleet, which the start-up says numbers around 50,000 bikes.
Tyred announced on 16 July 2026 a £2.5 million funding round intended to build an AI-driven bike ownership platform. The company was founded by Lancelot Hoare (chief executive), Nikita Baranov (head of operations) and Daniel Bursztynski (chief technology officer).
Tyred already services Lime’s London fleet
Before this funding round, Tyred already existed as an at-home bike repair service, with Cytech-certified mechanics sent straight to customers in London. The company claims to have serviced more than 100,000 bikes over the past year, and handles maintenance and battery swaps for Lime’s shared-bike fleet in the British capital. Tyred puts the figure at around 50,000 bikes; Lime does not disclose the size of its London fleet, which independent estimates placed at around 20,000 in 2025.
“Bike ownership hasn’t kept pace with the way people ride today,” says Lancelot Hoare, co-founder and chief executive of Tyred.
Sensors to catch the breakdown before it happens
The platform Tyred wants to build with this £2.5 million brings maintenance, repairs, insurance, warranty management and bike financing together in a single service. It relies on proprietary connected units fitted to the bikes, which report operating data analysed by an artificial intelligence engine tasked with spotting wear before failure and triggering preventive maintenance.
The round is co-led by British funds Raw Ventures and Ada Ventures, with participation from several angel investors, including Anton Buzdalin.
Europe next, after the UK
The funds are to go towards accelerating product development and supporting expansion across the UK. Tyred is then laying the groundwork for European growth, addressing both individual riders and professional fleets such as those of shared-bike operators.
