What the business is
German maker of electric bicycles and tricycles for commercial transport and last-mile delivery
Starting capital
$17.4M raised in May 2022
How it started
GetHenry made electric bicycles and tricycles and pitched itself around decarbonising the commercial transportation sector, focusing on electric utility bikes instead of internal combustion engine vehicles for last-mile delivery.
What happened
Fresh off a $17.4M fundraise in May 2022, the company announced on 20 July 2022 that it was changing its name to Cycle. Co-founder Luis Orsini-Rosenberg said the name and strong brand identity fit the mission to decarbonise commercial transport, and that 'as a brand, Cycle is urban, bold and cool, which is why we think couriers will identify with Cycle.' The company told TechCrunch it was not pursuing a trademark on the word 'cycle', registering only the specific shape of its logo.
What has to be true
The rename followed a $17.4M raise in May 2022 and was tied to the decarbonisation mission.
The founders wanted a brand couriers would identify with, calling Cycle 'urban, bold and cool'.
The company chose not to trademark the generic word 'cycle', protecting only the logo's shape.
TechCrunch warned the untrademarked name invites copycats and knock-off products.
What can be applied
A brand everyone can say is a brand nobody can own: generic names buy relatability at the cost of trademark protection.
Aftermath
As of 20 July 2022 the company was continuing its last-mile delivery business under the Cycle name. No sales, fleet or customer figures were reported, and TechCrunch's trademark warning had no reported follow-up.
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