A London-based cargo bike taxi and delivery service has launched a crowdfunding campaign aiming to raise £150,000 to fund expansion. Pedal Me, which mostly operates within a five-mile radius of Waterloo Bridge at present, says it is reaching the limits of its current capacity and needs to expand.
Using specially designed e-assist cargo bikes, Pedal Me riders can transport two adults or “pretty much any load that doesn't need a forklift truck (and some that do).” It pretty much goes without saying that the service is booked via an app.
The service’s main selling point is that it offers quicker and cleaner journeys than rivals who rely on motor transport.
In the year to September 2018, Pedal Me completed 18,600 jobs and while it is currently loss-making, from Oct 2017 to Sept 2018 it saw a 24% compound monthly growth rate.
Should the firm secure funding, the plan is to add at least 30 bikes for London to ensure pickup times of less than eight minutes within a radius of three miles from the centre, and additional technology that would support 'stacking' – the pooling of delivery jobs – to make the firm’s logistics service more efficient.
“This allows us to bring down prices and realise our speed advantage fully, to be cheaper across all our market segments,” states the pitch.
The next step after that would be expansion to other cities in the UK and abroad.
Pedal Me says that around 70 per cent of taxi journeys in London are less than five miles and so estimates that its passenger bikes have the potential to complete around 35 million taxi journeys a year.
Same-day delivery is the other key aspect of the service. It estimates London’s market to be worth around £1bn and aims to capture 0.3% or more by 2021.
The campaign has so far raised over £45,000 with 26 days still to go.
Fu** this country. Might remove the restriction on my ebike
So what this tells me is that I can ride into a ped and knock them down and it will be treated as minor. Righto
Such a lovely paintjob.
Are you perchance referencing the lack of come-uppance in cases like this?...
Either you've not been to a Costa, or you've misunderstood the "hipster" stereotype.
Same here. Along with that friggin road.cc video. I scroll and then think "shit, too far, it's got me now"....
I watched the last hour of the women's race on the BC youtube live feed. Hugely impressive solo ride by 19 year old Alice Towers, holding off...
"Careful lad, don't scratch my paint."
Woman loses bag during flight transfer doesnt have the same ring to it does it? Feel for her but not sure this was worth a Road.cc story.
There is that little button to press on the Lezyne hose to relieve the pressure before unscrewing. Not sure if it actually helps matters or is just...