IT’S MY BIKE has been active as an IoT Venture GmbH trademark since 2018. The idea to develop a GPS tracker for e-bikes had its origins in the question “What things are really worth us knowing where they are?” “You quickly come up with the answer: bikes,” explains bike enthusiast and IT’S MY BIKE CEO Jürgen Veith. The seek, find and recover solution has been gradually expanded since its launch.
IT’S MY BIKE is based on Vodafone’s innovative radio technology standard Narrowband IoT (NB-IoT). NB-IoT offers advantages over other radio standards with lower costs, a robust signal and a greater range. This means that the IT’S MY BIKE tracker is even able to transmit data from basements. In the event of a theft, the tracker can transmit its location for up to an impressive twelve hours without power supply when the bike is continuously on the move. Concealed in the e-bike, the IT’S MY BIKE module offers a further advantage in that it is maintenance-free.
If the e-bike happens to get stolen, IT’S MY BIKE works closely with the police to locate the thieves as quickly as possible and retrieve the stolen object. The Darmstadt-based company is highly successful at this task – the recovery rate is 80 percent, meaning most stolen e-bikes are returned to their rightful owners.
Sales of bikes and, particularly, e-bikes are booming due to the Covid crisis. Every second e-bike sold in Europe is purchased in Germany with around 1.4 million e-bikes expected to be sold in the country this year. This offers great potential for IT’S MY BIKE: “The brand is aiming for every bike sold in Europe to be fitted with an IT’S MY BIKE tracker,” explains CEO and co-founder Jürgen Veith.
IT’S MY BIKE has developed a whole service world and built up a brand and a sales network for networked e-bikes within a very short space of time. “Speed is crucial in the market where we operate,” states Veith. His advice to company founders and budding entrepreneurs: “Simply get on with it!”
If you wish to learn more about the IT’S MY BIKE story and upcoming projects, you can hear the podcast in its entirety here (in German). Or simply listen to it on the Apple Podcast, Spotify and Deezer streaming platforms. Enjoy!