Magnus Lindfors

We make people's bicycle life smoother.We offer simple, reliable, and sustainable services for the everyday cyclist who are looking for a more convenient and functioning bicycle life. MIOO contributes to sustainable and healthy cities by enabling billions of kilometers of mobility by pure pedal power!MARKETCycling is growing rapidly with2B bikes in the world and +100M sold bikes per year. Bicycle commuting is exploding in large cities through new bike lanes, healthier lifestyles and environmental consciousness. Copenhagen and Amsterdam have close to 50% mobility by bicycle. Paris, London and Stockholm are quickly catching up from 10% levels. Cycling delivers several 100 times more mobility in kilometers than all E-scooters and other mobility companies all together. IMPACTBikes are the most efficient, sustainable and healthy way of transportation up to 30km and it is an effective solution for several global challenges. A bicycle emits only 3g of CO2 per km. An everyday cyclist shows a 40% lower mortality risk.PROBLEM Bicycle sales are moving online. The 20% CAGR of online sales before Covid-19 is now accelerating fast, expected to reach 40% of all sales in many countries by 2025. The shift to online sales requires new types of solutions for customer support and service of the bike. Customers wait on average 12 days to get the bike fixed and even finding a nearby bike repair shop is hard. Millions of bicycles are left in sheds or garages with simpler problems. Millions of bicycles are also reported stolen and rarely get back to the owners even if the Police finds it. People stop biking due to this, leaving all the impacts disabled. SOLUTIONMIOO offers a solution to all this by establishing a “service & safety” relationship with the user from when the bicycle is unpacked from a delivery box until the bike is sold.PRODUCT / APP- Bicycle service where you are- Assemble your newly online-purchased bike at your doorstep - Anti theft registration and Bike-id-labeling- Bicycle insurance - Service book - Digital and secure change of ownership- IoT ready for Smart locks and GPS- Service and Safety subscription single or family planBUSINESS MODELOn-demand services act as profitable funnel into a recurring subscriptions100€ in yearly recurring revenues per user from subscriptions and on-demand sales of service and safety.FINANCIAL GOALS We are launching 100 cities in the next 5 years, reaching 5 million yearly paying users. Totaling a revenue of €500M in 2026 with a gross margin of 50%. TRACTIONWe have shown a clear problem-solution fit in Stockholm and started to see clear indicators of a product-market fit. We have now launched our second city, London, with even larger potential.STOCKHOLM+ 20,000 paying users last 12 month+100 active Bike Buddies/mobile bike service, +500 on short listProfitable in Stockholm 2 years after launch!€500k in revenues, growing with 200% in CAGRLONDONLaunched Q2 2021+ 500 paying users after just one quarter with very little marketing. 5 active Bike Buddies, + 100 on short listPARTNERSHIPS Swedish tech-insurance company Omocom cover our subscribers' bike insurance. Internet stores Bikester, an e-commerce bicycle retailer who operates in 14 markets, resells our assembly service in Stockholm this spring as a pilot. About 10% conversion rate on all sold bicycles and + 500 bikes assembled in the pilot . The plan is to launch the same set-up in London during Q1 2022 and scale it to new cities.TEAMFounder and CEO: Tomas Grönqvist ,Former pro-cyclist (5 years on the pro-tour in Italy) turned entrepreneur. Founded cycling startup that was acquired by Salvatore Grimaldi. Co founders in operations: CTO Kimmo Björnsson (mat.se) COO Jakob Daniels, VPE Resad Zacina (ex-Fishbrain)Angels: Johan Attby (Fishbrain) Per Emanuelsson (Soundtrap), Fredrik Ahlberg (King) Sara & Jon Wimmercranz (Footway / Bambora) Stefan Krook & Karl-Johan Persson (H&M)ROUNDRaising €5M Use of founds: Scaling business in Europe and US