Apex Rides secures £3 million in a seed round backed by angel investors from London.

Apex Rides, a London, UK-based manufacturer of an in-home smart-bike and app, announced that it raised a £3 million ($4.1M) seed investment round.

The money was raised from local investors based in London, including Rod Aldridge and Eddie Jordan.

Apex Rides, founded in 2018 by Simon Cook and Charlie Lucas, developed a spamrt bike that can be used for in-home workout at an accessible price. The company follows Peloton's model and provides training classes, available both live and on-demand on the Apex Rides app on an affordable subscription basis, and are accessible 24/7. Apex Rides also announced that it has exclusively partnered with London spin studio Boom Cycle as well.