London startup Onomo has launched a Kickstarter campaign to support the release of its Haize compass, which uses flashing and colour-changing lights to direct cyclists to their destination (+ slideshow).

The Haize bicycle compass aims to address challenges faced by cyclists navigating across the city, by providing a minimal interface that clearly communicates directions without becoming a distraction – as a map or app might be.

The circular compass is made of machined aluminium and has a glass screen with a display that resembles a target.

The user sets their destination via the Haize companion smartphone app, and an LED light moves around the circumference of the compass to point toward's the cyclist's final goal.

A central glowing LED also changes colour from red to green and flashes faster to indicate the distance from the final destination.

"We wanted to create a simple, affordable and easy to use product that will help find your way through the city," said Onomo co-founder Javier Soto Morras.

"Haize works like a magic compass, but instead of pointing north it points to your final destination - in that way you are free to choose your own route through the city."

The compass clips to the bike's handlebar with an attached band. With a diameter of 42.5 millimetres and a width of 10 millimetres, it is also small enough to be stored in a pocket when not in use.

The company claims the battery in the device can last up to two weeks, and is recharged via USB.

Onomo hopes Haize will offer cyclists a new experience for the city, allowing them to uncover previously unknown routes and locations on the way to their final location.

"We set out to develop a navigation device for cyclists that is both simple, beautiful and intuitive to use," commented Morras. "All of the Onomo team being active cyclists ourselves, this is really a passion project to solve a personal problem as much as solving a problem for all cyclist everywhere.”

Onomo's Kickstarter campaign launched on 28 October 2015 and continues until 8 December 2015. The company is seeking £50,00 to put the compass into production, with almost £20,000 already raised at time of publication.

Canadian company CycleLabs recently ran a successful crowdfunding campaign for its SmartHalo bike attachment, which also pairs with a smartphone to help cyclists navigate, track routes and prevent theft.