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Garmin releases report highlighting cycling trends from around the world

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2 years ago

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Data from Garmin users worldwide shows a rise in cycling activities—both inside and outdoors

OLATHE, Kan., July 10, 2024 /PRNewswire/ — Garmin (NYSE: GRMN) released a report today highlighting how cyclists around the world are logging miles and the positive health benefits they’re seeing as a result. Whether riding inside or outdoors, data from the Garmin Connect community shows that cycling activities are on the rise—and they don’t appear to be slowing down anytime soon.

Here are some key takeaways from the past year:

Cycling activities increased 7% while indoor cycling activities rose 12%.Women cyclists took the top spot as the fastest-growing cycling demographic in the Garmin community with a 9% increase in cycling activities.Garmin users who ride at least 70 miles per week average normalized power of more than 180 watts.Cyclists in the United Arab Emirates log the fastest rides, averaging 16 miles per hour.Cyclists in Denmark record the most powerful rides with an average normalized power output of 196 watts.Riders in Italy spend the most time on their bikes, with each ride lasting just over two hours. They also ride the furthest, with an average distance of 29 miles.

Click here to read the entire report.

Professional athlete approved

Garmin sponsors some of the world’s top athletes, including professional cyclists and cycling teams. Here’s what some of them have to say about how Garmin’s latest cycling products help them crush the competition:

“As a professional off-road cyclist, 90% of my training is done on the bike and is power-based training. I use the Garmin Rally™ XC200 pedals for my power meter. I tested a lot of power meter options a few years ago and found that the Rally pedals are the most consistent to themselves and also seem to be the most accurate when compared with a calibrated smart trainer. Training or racing in general would really not be possible for me without my Edge® 1040 Solar. In so many ways this computer is like my training partner. A lot of off-road racing now requires self-navigation, so the map screen and ability to load a course with turn-by-turn directions are crucial for my success. Lastly, the Varia™ radar tail light is a game-changing training tool whenever I am on roads that are shared with cars. It’s extremely helpful during efforts to help me stay aware of my surroundings. I often pull over as far to the right as possible when I see a car passing on the screen.” –Hannah Shell, professional off-road cyclist and Garmin-sponsored athlete

“I love riding outdoors and on a range of different bikes – the road bike, TT bike, gravel bike; I even get the mountain bike out once in a while. A couple of things are stable across all those bikes though. My Edge 1040 Solar head unit and my Varia radar. In the summer I love the long days on the road bike or the gravel bike and the solar panel on the Edge 1040 Solar makes sure I have plenty of energy to keep going as long as I want. In the winter, however, it can be challenging at times up in Scandinavia as the winters can be dark and cold. In those times, the Varia radar makes an even bigger impact on my ability to get my rides done while bringing awareness to my surroundings. It makes me aware of the cars around me, and the light helps make them aware of me.” –Kasper Asgreen, Soudal Quick Step cyclist and Garmin-sponsored athlete

“I call the Garmin system the computer of my sporting life. I see the Edge 840 Solar and Forerunner® 955 Solar as tools that I need for my ‘work’ as a top athlete. The Edge is where all my training sessions are going through and are fully tracked. In combination with the Forerunner, other physical data such as the number of hours I sleep, is also monitored. That gives me enormous added value to properly monitor my work as a top athlete.” –Mischa Bredewold, Team SD Worx-Protime cyclist and Garmin-sponsored athlete

Get ready for your next ride

Whether enjoying a casual cruise around town or preparing for that next big race, Garmin cycling products are ready for any ride.

Discover new routes with the Edge lineup of GPS cycling computers – including the Edge Explore 2, Edge 540, Edge 840, Edge 1040 and Edge 1050. These cycling computers combine superior navigation, performance tracking, cycling awareness and smart connectivity to help cyclists enjoy their ride and improve every day.See and be seen with the Varia lineup of rearview radars – including the Varia RTL515, Varia RCT715 and Varia eRTL615 – that warn of vehicles approaching from behind and feature a tail light that brightens and flashes to alert drivers of a cyclist ahead. Varia RCT715 even includes a built-in camera that continuously captures sharp, clear video during any ride.Whether riding on the streets or the trails, the Varia UT800 smart headlight works alone or pairs with an Edge device to help provide light in even the darkest riding conditions. It can even adjust its own brightness based on ambient light conditions when paired with a compatible Edge cycling computer.The Rally Series power meter pedals provide reliable power data and advanced cycling dynamics. Compatible with SHIMANO SPD-SL, SHIMANO SPD or LOOK KEO cleats, they install like any other pedal, making it easy to swap them between bikes.When it’s time to take training indoors, Tacx® trainers like the NEO 3M smart trainer and NEO Bike Plus all-in-one smart bike provide accurate data measurements (within 1%) and include unique features like road feel, dynamic inertia and descent simulation to make training feel more lifelike.Premium multisport smartwatches like the Forerunner 965 and fēnix® 7 Pro easily pair with Garmin’s lineup of cycling products to track power, advanced cycling dynamics and functional threshold power (FTP) while also monitoring health insights 24/7, like recovery time, sleep, stress and more.

Check out our website to learn more about Garmin’s suite of cycling products. 

Engineered on the inside for life on the outside, Garmin products have revolutionized life for runners, cyclists, swimmers and athletes of all levels and abilities. Committed to developing technology that helps people stay active and elevate performance, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. Visit the Garmin Newsroom, email our media team, connect with @garmincycling on social, or follow our blog.

About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, Edge, Tacx, Forerunner and fēnix are registered trademarks and Rally and Varia are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 30, 2023, filed by Garmin with the Securities and Exchange Commission (Commission file number 0001-411180). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Media Contacts:
Stephanie Schultz and Natalie Miller
913-397-8200
media.relations@garmin.com

 

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SOURCE Garmin International, Inc.

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IIFL Capital Launches Algo Marketplace with Over 100 Ready-Made Strategies

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56 seconds ago

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June 19, 2026

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MUMBAI, India, June 19, 2026 /PRNewswire/ — IIFL Capital Services Limited (https://www.iiflcapital.com) today announced the launch of its next-generation algorithmic trading platform. The platform offers access to more than 100 ready-made exchange-approved algorithmic trading strategies, making sophisticated trading tools accessible to a wider investor base.

Algorithmic trading has emerged as one of the fastest-growing segments in global capital markets, driven by advances in technology, data analytics and automation. In India, increasing regulatory clarity and growing investor adoption are accelerating the shift towards systematic and rules-based trading approaches.

Commenting on the launch, Rachit Mehta, Head of Products and Platform, IIFL Capital, said:

“For over three decades, IIFL has been at the forefront of innovation in India’s financial services industry. From pioneering digital investing solutions to building cutting-edge trading infrastructure, technology has been central to our growth journey. The launch of our Algo Marketplace marks another important milestone in that evolution.”

“With access to over 100 ready-made strategies, a robust technology architecture and participation from leading exchange-approved strategy providers, I believe we have created one of the most comprehensive algorithmic trading ecosystems in the country. Our objective is to democratize access to sophisticated trading strategies and empower investors with institutional-grade tools through a simple and intuitive platform.”

The launch further strengthens IIFL Capital’s position as a technology-led financial services institution. Over the past three decades, the company has consistently invested in digital innovation, helping millions of investors access capital markets through advanced yet user-friendly solutions.

As algorithmic trading continues to gain momentum in India, IIFL Capital’s platform aims to bridge the gap between institutional-grade technology and retail investor participation, bringing automation, discipline and data-driven decision-making to a broader audience.

About IIFL Capital Services Ltd

IIFL Capital Services Ltd (formerly known as IIFL Securities Limited) (NSE: IIFLCAPS) (BSE: 542773) is one of the key capital market players in the Indian financial services space. IIFL Capital offers broking services, wealth management, financial products distribution, institutional broking, research and investment banking services.

Photo: https://mma.prnewswire.com/media/2997315/IIFL_Algo_announcement.jpg

 

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LUMIQ Raises INR 50 Crore Pre-Series B to Become the AI Decision Layer for Financial Services

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57 seconds ago

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June 19, 2026

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While most AI in financial services remains advisory, LUMIQ has built the layer that owns the decision — autonomous, auditable AI agents making regulated calls in production at leading banks, insurers, and capital markets firms. Today, LUMIQ serves clients across India, the United States, and Southeast Asia — leading institutions across insurance, banking, and capital markets.

NEW DELHI and MUMBAI, India, June 19, 2026 /PRNewswire/ — LUMIQ, an AI-native financial services company, today announced a strategic funding round to scale auto-decisioning for financial institutions across the United States and Southeast Asia. The round was led by Bajaj Finserv, one of India’s largest and most diversified financial services groups, with participation from existing investor Info Edge Ventures.

Right now, thousands of customers are waiting for a policy to be issued, a loan to be disbursed, a claim to be adjudicated, because somewhere an FSI employee is drowning in decisions, held back by the risk of getting it wrong. Today, when e-commerce delivers the same day, banks and insurers still decide in weeks. We built LiteCone to take that burden: AI decides the routine cases, completely and accountably, so humans spend their judgment on the one case that actually needs it. This round lets us bring that to every financial institution in the markets that matter most.
Shoaib Mohammad, Co-founder and CEO, LUMIQ

From AI that assists to AI that decides

For decades, financial institutions have bought technology that made their people faster — faster data, faster scoring, faster copilots. The decision still landed on a human. LUMIQ is changing that. Through its LiteCone platform, the company deploys AI agents that read the file, apply the institution’s own guidelines, and reach the decision end to end — escalating only the cases that genuinely require human judgment. The output is not a recommendation. It is a decision, with full reasoning attached, cross-referenced to policy, and defensible under audit.

The results in production speak clearly. At a leading life insurer, LUMIQ’s LEO agent decides 75–80% of underwriting cases with zero human touch, reduced policy issuance cost by roughly 25%, and compressed turnaround from days to under eight minutes — running 24×7 with complete auditability. Across its client base spanning insurance, banking, and capital markets in India, the US, and Southeast Asia, LUMIQ now processes millions of decisions annually.

LiteCone turns a real financial-services role into a working AI agent in weeks. Every agent we deploy is consistent, explainable, compliant, and auditable by design — not as an afterthought. This capital lets us go deeper on the platform and broader across roles. And through our cloud and AI lab partnerships, institutions will increasingly find LiteCone already embedded in the platforms they run today.
Vaibhav Dobriyal, Co-founder and Chief Product Officer, LUMIQ

This round funds four priorities: expanding go-to-market in the US and Southeast Asia; deepening LiteCone’s decisioning capabilities; extending the agent workforce across more financial-services roles; and building a partnership ecosystem with cloud hyperscalers, AI labs, and core banking and insurance platforms so LiteCone is embedded where institutions already run.

LUMIQ’s investors backed the round for the same reason its customers adopt LiteCone: agents already deciding in production, with auditability and control built in.

As a financial-services group, we know how much rests on getting regulated decisions right, at speed and at scale. LUMIQ has built AI agents that decide in production with auditability and control built in, the capability the industry has been moving toward. We are proud to lead this round and to support the team’s expansion across the US and Southeast Asia.
Lakshmi Iyer, Group President – Investments & CEO, Bajaj Alternates

Our conviction is grounded in what LUMIQ has already built. Their AI agents aren’t just built for the future. They are operating in production today, at speed. This combination is rare, and its value will only compound as the company scales globally.
Girish Jhunjhunwala, Fund Manager – PE and VC Investments, Bajaj Alternates

Financial services is one of the hardest categories to crack — regulated, risk-averse, and unforgiving of hype. LUMIQ has put agentic AI into live financial-services workflows and earned the trust of large institutions across the US, Southeast Asia and India. That is how a category-defining company in financial-services AI gets built, and we are proud to keep backing the team as they scale globally.
Kitty Agarwal, Partner, Info Edge Ventures

LUMIQ’s goal is to lead one category: auto-decisioning at production scale for financial services. Agents that act, not assist, and never compromise audit, compliance, or predictability.

About LUMIQ

LUMIQ is an AI-native financial services company. Through its LiteCone platform and a growing workforce of production AI agents, LUMIQ turns real financial-services roles — insurance underwriter, credit underwriter, claims adjudicator — into agents that are consistent, explainable, compliant, and auditable. The company pairs deep domain expertise across banking, insurance, and capital markets with frontier AI. LUMIQ employs over 350 AI and data specialists, and has offices in New Jersey, Singapore, and Delhi NCR (India).

Web: www.lumiq.ai

Photo – https://mma.prnewswire.com/media/2997317/LUMIQ_Funding.jpg

 

 

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LUMIQ Raises Strategic Funding to Become the AI Decision Layer for Financial Services

Published

59 seconds ago

on

June 19, 2026

By

While most AI in financial services remains advisory, LUMIQ has built the layer that owns the decision — autonomous, auditable AI agents making regulated calls in production at leading banks, insurers, and capital markets firms. Today, LUMIQ serves clients across India, the United States, and Southeast Asia — leading institutions across insurance, banking, and capital markets.

NEW YORK and SINGAPORE, June 19, 2026 /PRNewswire/ — LUMIQ, an AI-native financial services company, today announced a strategic funding round to scale auto-decisioning for financial institutions across the United States and Southeast Asia. The round was led by Bajaj Finserv, one of India’s largest and most diversified financial services groups, with participation from existing investor Info Edge Ventures.

Right now, thousands of customers are waiting for a policy to be issued, a loan to be disbursed, a claim to be adjudicated, because somewhere an FSI employee is drowning in decisions, held back by the risk of getting it wrong. Today, when e-commerce delivers the same day, banks and insurers still decide in weeks. We built LiteCone to take that burden: AI decides the routine cases, completely and accountably, so humans spend their judgment on the one case that actually needs it. This round lets us bring that to every financial institution in the markets that matter most.
Shoaib Mohammad, Co-founder and CEO, LUMIQ

From AI that assists to AI that decides

For decades, financial institutions have bought technology that made their people faster — faster data, faster scoring, faster copilots. The decision still landed on a human. LUMIQ is changing that. Through its LiteCone platform, the company deploys AI agents that read the file, apply the institution’s own guidelines, and reach the decision end to end — escalating only the cases that genuinely require human judgment. The output is not a recommendation. It is a decision, with full reasoning attached, cross-referenced to policy, and defensible under audit.

The results in production speak clearly. At a leading life insurer, LUMIQ’s LEO agent decides 75–80% of underwriting cases with zero human touch, reduced policy issuance cost by roughly 25%, and compressed turnaround from days to under eight minutes — running 24×7 with complete auditability. Across its client base spanning insurance, banking, and capital markets in India, the US, and Southeast Asia, LUMIQ now processes millions of decisions annually.

LiteCone turns a real financial-services role into a working AI agent in weeks. Every agent we deploy is consistent, explainable, compliant, and auditable by design — not as an afterthought. This capital lets us go deeper on the platform and broader across roles. And through our cloud and AI lab partnerships, institutions will increasingly find LiteCone already embedded in the platforms they run today.
Vaibhav Dobriyal, Co-founder and Chief Product Officer, LUMIQ

This round funds four priorities: expanding go-to-market in the US and Southeast Asia; deepening LiteCone’s decisioning capabilities; extending the agent workforce across more financial-services roles; and building a partnership ecosystem with cloud hyperscalers, AI labs, and core banking and insurance platforms so LiteCone is embedded where institutions already run.

LUMIQ’s investors backed the round for the same reason its customers adopt LiteCone: agents already deciding in production, with auditability and control built in.

As a financial-services group, we know how much rests on getting regulated decisions right, at speed and at scale. LUMIQ has built AI agents that decide in production with auditability and control built in, the capability the industry has been moving toward. We are proud to lead this round and to support the team’s expansion across the US and Southeast Asia.
Lakshmi Iyer, Group President – Investments & CEO, Bajaj Alternates

Our conviction is grounded in what LUMIQ has already built. Their AI agents aren’t just built for the future. They are operating in production today, at speed. This combination is rare, and its value will only compound as the company scales globally.
Girish Jhunjhunwala, Fund Manager – PE and VC Investments, Bajaj Alternates

Financial services is one of the hardest categories to crack — regulated, risk-averse, and unforgiving of hype. LUMIQ has put agentic AI into live financial-services workflows and earned the trust of large institutions across the US, Southeast Asia and India. That is how a category-defining company in financial-services AI gets built, and we are proud to keep backing the team as they scale globally.
Kitty Agarwal, Partner, Info Edge Ventures

LUMIQ’s goal is to lead one category: auto-decisioning at production scale for financial services. Agents that act, not assist, and never compromise audit, compliance, or predictability.

About LUMIQ

LUMIQ is an AI-native financial services company. Through its LiteCone platform and a growing workforce of production AI agents, LUMIQ turns real financial-services roles — insurance underwriter, credit underwriter, claims adjudicator — into agents that are consistent, explainable, compliant, and auditable. The company pairs deep domain expertise across banking, insurance, and capital markets with frontier AI. LUMIQ employs over 350 AI and data specialists, and has offices in New Jersey, Singapore, and Delhi NCR (India).

Web: www.lumiq.ai

Photo – https://mma.prnewswire.com/media/2997283/LUMIQ_Funding.jpg

 

 

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