Muoverti, the company behind TiltBikes, recently passed another million pound milestone in funding from investors, taking the total raised by the London-based sports tech start-up to more than £2.4m.
Following the public unveiling of its pre-production prototype at London’s Rouleur Live expo in November 2021, the company reports that it saw a significant increase in interest from the media, consumers and potential investors, resulting in this latest injection of capital.
The latest investment round builds on previous funding from private investors, taking the total amount raised by Muoverti to date to £2.4m, including a convertible loan by the government’s FutureFund.
Christoph Wilfert, Muoverti CEO and Co-Founder, said “Last month, we crossed the £2.4m mark raised since inception, of which £1m was raised in just three months after publicly presenting the project for the first time back in November last year.
“We’re now in the enviable position of having an incredible group of investors who are also networked and passionate cyclists, ready to support us in more ways than one. This puts us in a strong position to achieve upcoming product milestones, move closer towards production and recruit the talent that will bring TiltBikes to life.”
A release from the company added… ‘TiltBikes are designed for riders in search of more effective exercise and to redefine indoor cycling as we know it.
‘Built for athletes of all levels looking for a realistic indoor cycling experience and effective exercise with uses ranging from general fitness to intensive training and E-Sports. The bikes enable riders to balance and steer, accelerate, brake and engage the whole body to simulate riding outdoors, indoors.’
As part of scaling up operations, Muoverti recently moved to new facilities in Wandsworth, London, which will allow for further R&D and rider testing as well as becoming home to the company.
Muoverti plans a further investment round this May.
