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(The startup was Arcube btw)

At a glance

Apex Rides is a fitness app for static indoor bikes. Allowing connected users to: Stream spinning classes and gamify real-time stats. On any FTMS-compatible bike.

• Turns any FTMS-ready bike into a fully connected, addictive fitness experience. *FTMS is a new universal Bluetooth standard that lets smart bikes connect to third-party apps.

• Making premium connected-fitness radically more accessible. Riders get structure, motivation, and community without the heavy price tag.

Quick fire details

• Headquarters: London, UK

• Employee count: 11

• Business model: Subscription based app membership.

• Backed by: Raised £300,000 (undisclosed investors) this round. Prev raised over £6M across multiple rounds from investors including: Sir Rod Aldridge and Eddie Jordan.

• Funding amount: Raising up to £1M (EIS eligible).

The founders

• Cofounder, Simon Cook: Founder and operator, experienced raising VC. Prev founder of Bagsy and senior BD at Divido.

• Cofounder, Charlie Lucas: Ex Capco and IM at Killik & Co.

The market

• 13M+ smart bikes globally (40M by 2027) with 90% of bikes manufactured today now including the FTMS protocol.

This startup is solving one key problem:

• Most fitness apps are generic, boring, and locked behind overpriced hardware.

• Riders want (but don’t have) structure, motivation, and community - without having to spend +£2,000 on a bike.

^{The quicker pitch: Quick Pitch Ad Placement}

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Previous sponsors include: PitchBuilder, SynTax and ScrewLoose.

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Click on the image above to view our Q2 Media Kit

Traction metrics

• £700k ARR (forecast to scale to £2m+ by Q4)

• 2,300+ active subscribers and 2,500+ professionally produced rides from their London studio

• +1M classes completed to date

• Partnered with Johnson Health Tech (Matrix/Schwinn/Horizon) to offer integrated hardware options

• Scalable SaaS model with gross margins >75% and subscriber LTV >£1k

Competitive landscape

• LesMills, Zwift, Peleton and iFit

  • Why Apex wins:

    1. Hardware-agnostic, FTMS-first.

    2. Premium content, lifestyle positioning (Brand built around cool, clear, and inclusive cycling - not performance-obsessed or intimidating)

    3. Untapped market (targeting owners of FTMS bikes not served by the big players).

We’re collaborating with VC’s to offer exclusive allocations into deals. Stay tuned for the launch of quick pitch deal.

In the meantime register below if you’re interested.

Our Take

Appeals

• Fastest route to mass scale, lowest operational burden: No physical product means Apex Rides can meet users where they are: any compatible bike, no hardware lock-in. >75% gross margins.

• Lean and focused: No warehouses, no logistics, no sunk costs - just content and growth. Allows for agility in pricing, product iterations, and customer targeting.

• Strong revenue: At £700k in revenue with +2,300 subscribers, Apex Rides are predicted to be cash flow positive at 6000 riders.

Risks

• Competitive space: The market is dominated by large, established players (often US-based) with significant marketing budgets and brand recognition.

• CAC uncertainty: Widespread lifestyle habits change quickly. With the rapid growth during the pandemic it may be hard to predict future behaviour and therefore cost of acquisition.

• Reliance on FTMS compatibility: FTMS is a new universal Bluetooth standard that lets smart bikes connect to third-party apps. Some providers aren’t compatible.

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