Bristol based Temple Cycle have surpassed the Crowdcube target they set to help them grow UK bicycle manufacturing.
"There was a time when the UK’s bicycle industry was the envy of the World - it’s our dream to bring those days back." - Owner Matt Mears
The brand offered ten percent of their business, raising £155k so far – and they’re still going. With the cash, they aim to create fifteen more jobs to help them grow their brand and offer a new, revamped range of bikes made from scratch in the UK. The cash will also go towards researching UK manufacturing and expanding company facilities.
Temple Bikes say that fifteen percent of England’s population rides at least once a month – and that most of the premium, performance focused bikes available just aren’t suitable. Temple offer machines to meet a demand for simple, low-maintenance bikes.
Owner Matt Mears is just 26-years-old, and started out restoring bikes whilst studying at Bristol Uni. He founded the brand in 2014, with £5,000 of his own money. He said: “We want to grow bicycle production in the UK. We want to make beautiful, stylish British bicycles here in Bristol and sell them throughout the World. There was a time when the UK’s bicycle industry was the envy of the World - it’s our dream to bring those days back".
The company has already surpassed its target, but there’s still time to invest, with 26 days of the campaign remaining. The company, currently valued at £1,350,000, hopes to double its revenue in 2017. They’ll offer investors a variety or rewards, from special edition merchandise to one-of-a-kind custom bicycles. On the list of avenues to explore are eBikes, and high quality children’s bikes.