New Zealand-based startup Bike Matrix has secured NZ$2 million (€1.1 million) in seed funding to develop its bike compatibility solution for when buying and selling parts.
The B2B software solution is designed to make buying replacement bike parts effortless. It can be integrated into any eCommerce store, website, or software platform as it operates through the use of APIs. Once implemented, the end user can select a specific bike, and results are instantly returned to show compatible options within the store’s inventory, streamlining the search for bike parts.
The company’s proprietary solution aims to place less reliance on physical inspections to determine what part a bike needs, which can be a complicated process given the rapid innovation of the bicycle industry.
Bike Matrix’s technology can serve online stores, retail software systems, workshop portals, fleet management platforms, and other applications.
“Over the coming year we will onboard dedicated Technical Bike Data Interpreters that will help us enrich the mountain of bike and bike-component data we need to ingest,” Bike Matrix Co-Founder Adam Townsend told Zag Daily.
“We’ll onboard more front-end and back-end developers who will work on ensuring the solution remains stable and robust as we scale globally and build new integrations with our customer’s online and in-store platforms.”
Bike Matrix has more than 80 component brands providing product information. It encourages all bike and component brands to use the free compatibility solution to add their bike specs and part information to the database and benefit all parties in the industry.
“The focus for the founding team will be to complete the remaining compatibility categories for “whole bike” capability, build out a multi-language solution and release the much-anticipated Custom Bike functionality, whereby riders can modify bikes in the “Virtual Workshop” and receive a unique bike ID that can be used to find the right parts for the customised bike.”
Bike Matrix already has agreements with global brands and customers who are planning to integrate its solution into their process.
