Our CYCL Pitch To Multi-Mllionaires - as Seen On BBC's Dragon's Den
Learn how CEO Luca Amaduzzi and CTO Agostino Stilli went from childhood friends to gaining an investment from multi-millionaire MoonPig Investor Nick Jenkins on the BBC hit show Dragon's Den.
The CYCL Journey
Friends for over 15 years, Luca and Agostino are Italian-born entrepreneurs living in London, England. As keen cyclists, they founded CYCL in the aim of improving visibility when changing directions on a bicycle and consequently try to tackle the increasing issue of cycling safety on busy city roads. Over the last decade the number of commuters in London has increased by 144%*, making cycle safety a key issue now more than ever. As 75%** of cycling accidents take place at road junctions, the need for bicycle indicators is a clear priority for cycling safety. CYCL has seen success previously. The brand launched WingLights on Kickstarter last December, where the campaign was successfully funded up to 200% of our goal. CYCL won both the Best Business Idea and Best Pitch award at King’s College’s Lion’s Den Challenge. Additionally, we have been awarded with the Santander Entrepreneurship Award 2nd Place Postgraduate Category. Since October 2014, CYCL has been a part of the Sirius Programme from UK Trade and Investment, selected from over 2,200 applicants for only 50 spots. CYCL is currently a member of the Sirius Programme and a 3 months intensive accelerator programme from Oxygen Accelerator - one of the best UK and EU accelerators. However, the CYCL team had little experience with exposure as large as the BBC's Dragon's Den. On Sunday 29th January, in a face-to-face line up with multi-millionaire investors, the team behind WingLights successfully pitched their innovative bicycle indicators to Dragon’s Den for investment. Stating that the bike indicators were “exceptional”, Peter Jones was amongst all five dragons that complimented the design and quality of the WingLights. Ultimately, the CYCL team decided to take up the offer of £45,000 for 12.5% of the company to Moonpig founder Nick Jenkins. Luca, Agostino and the entire CYCL team want to thank everyone for the support and encouragement that they have been given throughout the process and want to continue to bring high quality, well designed and innovative products to the cycling industry.