What Cycle Group does

Cycle Group Co., Ltd. (サイクループ株式会社, brand: CYCLOOP) is a Japanese private company founded in 2008 that operates a subscription and resale business for used and new electric-assist bicycles under the NORUDE (ノルーデ) brand. The company addresses a stated gap in the Japanese market: the circulation of poorly maintained used electric-assist bicycles. Its core offering is a monthly fixed-rate subscription rental service (NORUDE) with three tiers — a General Course for individuals (commuting, school, and child transport, with approximately 30 bicycle models), a Delivery Course tailored to gig delivery riders, and NORUDE for Biz for corporate fleets handled via a dedicated sales representative. The service is supported by two Factory Centers (Tokyo metropolitan area and Kansai/Hyogo) where all employees are certified bicycle mechanics, ensuring standardized inspection and maintenance across the in-fleet bicycles. The company also distributes a niche Japan-only BAA-marked electric-assist twin-child tricycle developed by partner OGK Giken.

Revenue is generated primarily through recurring monthly subscriptions, supplemented by one-time used-bicycle sales that feed the circular-economy model. Go-to-market combines a self-serve online funnel (cycloop.jp) for individual and delivery customers, direct enterprise sales for corporate accounts, and a government partnership channel — exemplified by the February 2025 agreement with Fujimino City in Saitama Prefecture to provide NORUDE at preferential rates as part of municipal childcare support. The company is headquartered operationally in Itabashi-ku, Tokyo (relocated 2024) with its registered head office in Osaka and a Kansai Factory Center in Takarazuka, Hyogo. Capital is ¥290M (including reserves) following third-party allocations in 2022 and 2023, with Japan Asia Investment Co., Ltd. as a disclosed business partner. Headcount is approximately 20 as of January 2025.

Name

Cycle Group

Legal name

サイクループ株式会社

Website

https://cycloop.co.jp

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Cycle Group operates NORUDE, a monthly subscription and resale service for used and new electric-assist bicycles in Japan, targeting individual commuters, delivery gig workers, and corporate fleets, with all employees certified as bicycle mechanics for in-house quality control.

Ownership category

akta.pro rank

Product category

Electric Bicycle Subscription Services

NAICS

Automotive Equipment Rental and Leasing (5321), Consumer Goods Rental (5322)

SIC

Services-Equipment Rental & Leasing, Nec (7359)

akta.pro primary industry

Bike Rental, Demo & Tour Operators (Retail-Adjacent) (CRAMAHAJ)

akta.pro secondary industry

E-Bikes & Electric Bicycles (CRACASAA)

Keywords

• Electric bicycle subscription
• Used bicycle marketplace
• Bicycle maintenance services
• Delivery bike rental
• Circular economy mobility

Headquarters

HQ city

Itabashi

HQ country

Japan

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. NORUDE Subscription Service (個人向け): Monthly subscription rental service offering electric assist bicycles for various use cases (commuting, school runs, child transport). Includes free maintenance and inspection. Three course tiers: General Course (一般コース) for personal use, Delivery Course for delivery workers, and NORUDE for Biz for corporate customers.
2. NORUDE Delivery Course: Monthly subscription specifically designed for delivery riders, with monthly usage options and optional repair fee coverage.
3. NORUDE for Biz (法人コース): B2B subscription service for corporations and organizations, with dedicated sales representative handling customer requirements flexibly.
4. Used Bicycle Sales: Sale of high-quality used electric assist bicycles, supporting the circular economy mission.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Cycle Group operates NORUDE, a monthly electric-assist bicycle subscription rental service offering individual, delivery-worker, and corporate tiers with free maintenance and inspection. The company also sells quality-assured used electric-assist bicycles and circulates a nationwide network of refurbished bicycles to address the prevalence of poor-quality used e-bikes in Japan.

Product overview

Cycle Group operates a unified electric assisted bicycle subscription platform under the NORUDE brand, offering three distinct course tiers: General Course for everyday consumers (with 30 bicycle options), Delivery Course for gig economy workers, and NORUDE for Biz for corporate clients. The company also provides a specialized twin-child carrier bicycle (ふたごじてんしゃアシスト) developed in partnership with OGK Giken Co., Ltd. All services emphasize bicycle quality, safety maintenance by certified mechanics, and circular economy principles through resale and rental models.

Differentiator

Problem solved

Functional benefit

Brands

• NORUDE（ノルーデ）: Electric assist bicycle subscription service offering fixed-rate monthly rentals. Includes general course, delivery course, and NORUDE for Biz (corporate course) options.

Quantifiable outcome

• Eliminates the problem of poor-quality used electric bicycles in the market by providing quality-assured refurbished bicycles
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• 埼玉県ふじみ野市 (Fujimino City, Saitama Prefecture)flagshipStrategic or Co-development Partner · 6 February 2025Partnership agreement signed February 6, 2025 with Fujimino City to provide the NORUDE electric assist bicycle subscription service to city residents at preferential rates as part of municipal childcare support. Previously, the city fleet had limited inventory of only tandem models with waiting lists.
• オージーケー技研株式会社 (OGK Giken Co., Ltd.)coreStrategic or Co-development Partner · 1 December 2023Strategic partnership to offer the 'Futago Jitensha Assist' (electric assist twin-children-carrying tricycle) through the NORUDE subscription service starting December 2023. This is Japan's first and only BAA-marked electric assist tricycle for carrying two young children. OGK Giken developed the product; Cycle Group distributes it via subscription.
• 株式会社ふたごじてんしゃ (Futago Jitensha Co.)coreStrategic or Co-development Partner · 1 January 2023Developed the Futago Jitensha Assist (electric twin-children tricycle) in collaboration with OGK Giken. Founded by Michi Nakahara, mother of twins, who conceived the product to enable families with twins to travel freely. Cycle Group offers this as a subscription product under NORUDE.
• 公益社団法人日本サブスクリプションビジネス振興会 (Japan Subscription Business Promotion Association)minorOthersMember of the industry association promoting subscription business models in Japan. Representative Watatani serves as a board member of the association.
• いたばしSDGsパートナー (Itabashi SDGs Platform)minorOthersRegistered as an SDGs partner with the Itabashi ward (Tokyo) government, committing to sustainable social development initiatives alongside other partner organizations.
• AZX総合法律事務所 / 緑川律师事务所 (AZX Sogo Law Offices / Midorikawa Law Office)minorOthersLegal advisory partners providing corporate legal counsel.
• 税理士法人 ストリーム (Stream Tax Accounting Corporation)minorOthersTax advisory partner providing corporate tax accounting services.
• 公益財団法人 交通遺児育英会 (Traffic Orphan Scholarship Foundation)minorOthersCSR partnership: the company participates in social activities through donations to the Traffic Orphan Scholarship Foundation, supporting children who have lost parents to traffic accidents.

Scale indicators3 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Bridgestone Cycle: Subsidiary of Bridgestone, one of Japan's largest bicycle manufacturers with a broad lineup including electric-assist models. Comparable as a major Japanese e-bike player; not a subscription competitor but a potential OEM partner or threat via direct-to-consumer sales.
• Panasonic Cycle Technology: Major Japanese manufacturer of electric assist bicycles (e.g., the EZ series) under the Panasonic brand. Comparable through its e-bike focus and quality reputation, but operates as an OEM/retailer rather than subscription.
• Yamaha Motor (PAS lineup): Yamaha's PAS series is one of Japan's most recognized electric-assist bicycle brands. Comparable for product category and quality reputation, but operates through retail distribution rather than subscription rentals.

Direct peers

• Croooober: Japanese online marketplace for buying and selling used bicycles (and other vehicles). Most directly comparable peer for Cycle Group's used-bicycle circulation business, though Croooober operates as a marketplace rather than refurbishing and reselling.
• HELLO CYCLING: Japan's largest station-based bike-share network operated by OpenStreet/MoT. Directly competes with Cycle Group for bicycle access in Japanese metros, though HELLO CYCLING focuses on short-term rentals vs. NORUDE's monthly subscription model.
• Charichari (チャリチャリ): Docomo-operated dockless bike-share service active in Tokyo, Kyoto, and other Japanese cities. Competes for the same urban commuter/daily-use customer that NORUDE's General Course targets, via a different (per-minute) pricing model.

Emerging players

• Luup: Japanese micromobility startup offering electric kick-scooter and e-bike short-term rentals across Japanese cities. Overlaps with NORUDE on electric micromobility access but focuses on station-based short rentals vs. monthly subscription.

Regional players

• Lime: US-based dockless micromobility operator (e-bikes and e-scooters) active in multiple international markets. Comparable in micromobility subscription/short-rental model but not currently operating in Japan.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cycle Group