Cycling tech firm See.Sense seeks to raise £500,000 through Crowdcube shares sale
NEWTOWNARDS cycling technology company See.Sense is offering people the chance to own a small slice of the firm.
The business has launched a share sale with online investment platform Crowdcube in the hope of raising half-a-million pounds.
It allows members of the public to buy shares in the company in return for equity and "money can't buy rewards".
See.Sense was started three years ago by husband and wife team Philip and Irene McAleese.
It started with the creation of an intelligent and connected bicycle light ICON that reacts to higher risk situations and improves visibility, as well as using smartphone integration to provide theft and crash detection alerts.
The product is now sold into more than 50 countries worldwide.
It is not the first time the company has turned to crowdfunding sources to raise money.
It has already enjoyed two successful Kickstarter campaigns in which it raised more than £114,000 from more than 1,400 backers.
See.Sense CEO, Philip McAleese said: "We have some hugely innovative new products in the pipeline, and we've some amazing opportunities opening up with cities who are interested in our crowdsourced data. To give fuel to the fire, we're inviting our community - the people who use and love our products - to help us grow.
"To demonstrate the potential of our crowdsourced data, we have begun work with city of Milton Keynes on a full-scale trial. We are very excited about these opportunities and we hope that this will entice would be investors to, not only take See.Sense to its next stage of growth, but to join us and be part of that journey.”
Supporting See.Sense ICON's crowd sourced data, Geoff Snelson, Strategy Director of Milton Keynes Council added: "I see a lot of tech ideas but what has really impressed me about See.Sense is that they have thought through the customer experience and value to the cyclist. Together with that they have the potential to collect valuable data that can contribute to mobility projects in Milton Keynes as we progress to become one of the world's leading smart cities."