Gocycle Turns to Crowdfunding After Navigating ‘Bikeaggedon’ Crisis
Richard Thorpe, the visionary behind Gocycle, is relaunching his e-bike company, which he founded over two decades ago. After a significant restructuring earlier this year to streamline operations, Thorpe is now seeking support through crowdfunding to introduce a new line of F1-inspired e-bikes and expand into non-electric foldable bikes—an area currently dominated by the British brand Brompton.
To rally support, Thorpe will share his journey and the hurdles his business has faced in a series of upcoming videos. The first installment delves into what Thorpe calls “Bikeaggedon,” describing the chaos that ensued from skyrocketing e-bike demand during the early COVID-19 pandemic, followed by a breakdown in the supply chain and then a sudden surplus of parts once availability was restored.
This tumultuous period led to the bankruptcies of several key players, including VanMoof, Bird, and Cake, and caused companies like Rad Power Bikes to significantly scale back their operations. Even the major bicycle manufacturers—Pon Holdings, Accell, and Giant—felt the strain, though their larger scale helped them endure. Institutional investors have largely retreated, nursing their wounds from the upheaval.
Looking ahead to 2025, Gocycle’s new lineup features the five-speed CXi Cargo bike, and a new five-speed SXi available in both electric and non-electric versions. Thorpe anticipates that branching into non-electric foldables will potentially increase sales opportunities by 15 times, as Gocycle aims to compete with the dominant foldable bike maker. Thorpe plans to launch a Kickstarter campaign later this year for some of these new models, echoing the successful launch of the GS model in 2017.
While crowdfunding has been a viable option for many independent e-bike makers—such as Cowboy, which has used it to its advantage—there are risks involved. Early backers of VanMoof, for instance, experienced setbacks. Thorpe acknowledges that investing in Gocycle carries significant risk.
Interested supporters can back the campaign by registering on Fundable in the US or Crowdcube elsewhere. As Gocycle continues to innovate with some of the most unique e-bikes on the market, we wish Richard Thorpe and the Gocycle team the best of luck in their crowdfunding efforts.
What are your thoughts on Gocycle’s move into crowdfunding and their new e-bike models? Are you excited about their F1-inspired designs and expansion into foldables? Share your opinions in the comments below! If you want to stay updated on Gocycle’s journey and other exciting developments in the e-bike world, subscribe to our blog and follow us for the latest news and insights.
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