IT’S MY BIKE
The customer and the challenge
Keeping track of pets and bikes
Everything is connected. That defines the vision of IoT Venture, a German company developing pioneering applications through IoT connectivity to support its customers in launching innovative, data-driven business models. IoT Venture was founded in 2016 and evolved from a start-up to a scale-up in a few years. The first step on their journey towards creating digital, connected ecosystems was It’s My Dog – a solution that helps owners keep an eye on their pets. In 2018, IoT Venture also launched a new brand called It’s My Bike to provide e-bike passengers with a seamless digital ride experience and help them track their bikes’ whereabouts through a global, platform-based solution.
E-bike boom with rising concerns
The e-bike market grew rapidly during the pandemic and this trend has persisted. In 2022, 2.2 million e-bikes were sold in Germany, which shows a continuous increase compared to the previous years. The bad news is that bicycle thefts are also on the rise with around 300,000 bikes falling into the wrong hands every year. The annual damage caused by bike thefts is around 120 million euros, an excessively high amount from the insurance companies’ standpoint. Since an e-bike usually costs over 3,000 euros, more and more owners decide to seek efficient protection for their valuable assets.
Paving the way towards digital, safer journeys
As speed is crucial in the market they operate, It’s My Bike responded quickly to the rising demand for anti-theft protection and came up with an innovative solution to keep both passengers and their bikes safe. They wanted to seize the unlimited possibilities of digitalisation but they needed a trusted partner to bring their ideas to life. It’s My Bike was looking for a reliable and seamless connectivity solution to provide customers with peace of mind that their bikes are always safe. The brand’s aim is nothing less than to equip every bike sold in Europe with its trackers, and Vodafone Business is glad to support this ambition.
How we helped them
LPWA can always tell where your bike is
Low Power Wide Area (LPWA) connectivity is specifically designed for connecting devices with low bandwidth requirements. Narrowband-IoT (NB-IoT) is an LPWA technology that provides It’s My Bike with robust signal and extensive transmission range to ensure that the trackers can transfer data even from isolated areas, such as basements. As a complement to NB-IoT, the company also uses LTE for Machine Type Communications (LTE-M) to maximise coverage. The bikes are equipped with a GPS module and a Vodafone Business Global IoT SIM card that enables location monitoring on our Managed IoT Connectivity platform, a central dashboard allowing simple administration. The global SIM and our best-in-class network coverage make it possible for It’s My Bike to extend their services to other European countries and help more customers reduce their carbon footprint through e-mobility.
Thieves have no place to hide
The GPS module, which can be recharged from the e-bike’s battery without affecting the bike range, detects if the bike is moving and transmits this information via our IoT connectivity to the associated application. The owner receives a warning notification if it turns out that someone else is riding the bike. In case of theft, It’s My Bike works closely with the police to identify the thieves’ location as soon as possible. Thanks to their NB-IoT-enabled innovative solution, 80% of the previous recovery attempts proved successful and the stolen bikes were returned to their rightful owners. It’s My Bike also cooperates with the insurance company Alteos by AXA to ensure that their customers can benefit from discounted insurance fees.
Keeping riders safe when every second counts
Vodafone Business LPWA not only helps It’s My Bike safeguard e-bikes but owners can also rely on immediate support when they use the optional emergency assistance service. The GPS module can detect if a bike falls over and informs the WayGuard control centre managed by AXA to contact the customer on their smartphone. If the passenger doesn’t answer, the centre calls the ambulance and forwards the exact GPS location to the emergency contacts as well. That’s how It’s My Bike can guarantee that help is on the way as soon as a serious accident is detected.
A seamless ride towards business growth
Thanks to our IoT connectivity and continuous support, It’s My Bike can provide its customers with best-in-class protection against theft and accidents. “The comprehensive availability of Vodafone Business LPWA connectivity convinced us. In addition, Vodafone Business brought this IoT solution early to market while offering a reliable and trusted partnership,” says Jürgen Veith, CEO of IoT Venture. It’s My Bike is working closely with Vodafone Business to move its operations to the next level by expanding its services to vehicle fleets and e-bike sharing in the future. The company is also part of Vodafone UPLIFT, a start-up programme, which gives them access to an international network of cloud and IoT experts, IT infrastructure and more.
