ROTORUA, New Zealand (BRAIN) — Anonymous industry members have invested NZ$2 million ($1.21 million) into the New Zealand-based fitment database startup Bike Matrix.
Bike Matrix allows users to "select a bike and see what fits." BRAIN most recently wrote about the Bike Matrix in the February 2024 issue. The platform is designed for various applications, including online stores, retail software systems, workshop portals, wholesale B2B and ERP systems, fleet management platforms, and bike design.
The company said the seed investment is "a silent contribution from within the bicycle industry."
Founder Adam Townsend said, "This funding will enable us to expand our dedicated founding team and take Bike Matrix to the next level ... With a full battery, a clear roadmap, our toolbox, and strong industry support, we're ready to move forward."
Co-founder Lyndal Bailey said, "We're thrilled to onboard new team members and boost our capacity to deliver what the bike industry clearly demands. In five years, this will be the go-to method for finding bike parts, just like it is in the automotive industry."
Bike Matrix, which recently won a Eurobike Award at the German trade show, now has more than 80 component brands providing product information. It also has agreements with major global bicycle brands.
