# Magic Cycling

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/magic-cycling

- Industry: Media
- Headquarters: Guangzhou, China
- Website: www.biketo.com
- Total disclosed funding: $4.7M
- Latest round: Series A (Dec 17, 2015)
- Investors on record: 2

## About

Magic Cycling operates an online platform focused on the bicycle industry, providing a diverse range of products and services for cycling enthusiasts and professionals.Founded in 2002 in Guangzhou, China, Magic Cycling specializes in the bicycle market, offering an e-commerce platform for bikes and accessories. The company was established by Fuyuan Zhou, who continues to serve as CEO. Magic Cycling has secured a total of CNY 8.98 million in funding, with the latest round being a Series A funding raised in December 2015 from Lotus Lake Capital, marking a significant step in its growth.Biketo.com offers a comprehensive online platform tailored for the bicycle industry, featuring an extensive e-commerce site that sells bicycles, accessories, and apparel. In addition, it serves as an informational hub for cycling events, product reviews, and industry news, catering to individual consumers, bicycle retailers, and event organizers predominantly in China but with global appeal.In the most recent year, Magic Cycling reported a revenue of CNY 4,782,441.80 with an EBITDA of CNY -609,968.70, indicating operational challenges despite generating income through its diverse business model.Following its Series A funding in December 2015, Magic Cycling's growth strategy includes the development and launch of innovative cycling products aimed for release in the upcoming years. The company is also planning to expand its market presence beyond China, targeting specific regions in Southeast Asia by 2025. The funding received will be instrumental in supporting these initiatives, enhancing product development, and facilitating market entry.

## Funding rounds

- Series A, Dec 17, 2015, $1.4M — Lotus Lake Capital
- Series A, Mar 31, 2015, $3.3M — Sinovation Ventures, Lotus Lake Capital
- Angel, Jan 17, 2015, $0M — Sinovation Ventures

## Investors

- Sinovation Ventures (https://capitalatlas.ai/funds/sinovation-ventures) — Angel, Series A
- Lotus Lake Capital (https://capitalatlas.ai/funds/lotus-lake-capital) — Series A