Business

After its own bumps, Cycliq tries to cash in on bicycle road carnage

You've seen the hair raising videos, now you can buy the shares. 

Cycliq - think GoPro for your avid cyclists - opens for business on the sharemarket this Friday after raising up to $5 million to help fund more sales of its cameras.

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This means more video capturing the sort of cycling mishaps which populate YouTube videos showing what happens when cyclists meet cars, dogs, cows, other cyclists. All in high definition video you can a share with your friends on social media.  

And that's good news for Cycliq too. 

"Cycliq's products capture a constant flow of organic content which is re-purposed and used as marketing material," it told potential investors in one of its presentations. 

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It is a handy safety tool for bike riders too claim its founders, Andrew Hagen and Kingsley Fiegert.

"Many of our users claim it's like there's someone else with you on the ride, looking out for you," Hagen told Fairfax Media last year when the company started making a name for itself.

"If something does happen to you, you've got the hard evidence there and you can show the police," he said.

"Prior to Fly6, all cyclists had was anecdotal evidence." 

Cycliq has had its own bumps to contend with off-road. Like the securities regulator ASIC putting a clamp on its prospectus after expressing concerns about disclosures by the company. 

Cycliq will be entering the public domain this Friday via a backdoor listing through Voyager Global - an oil and gas explorer that has lost its taste for carbon fuels.

Investors include a rather prominent fundie CBD cannot name, but we can say he is an avid cyclist and can find his way around a polo paddock as well.  

Got a tip? ckruger@fairfaxmedia.com.au

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