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A pair of designers and aviation enthusiasts have built what they call the 'world's first flying bicycle. The bike, which as been named as 'the XploreAir Paravelo' by the designers, is an ordinary two-wheeled bike- with off-the-shelf handlebars, a seat and brakes - with a trailer attachment containing a parachute and a turbofan, Fox News reported. It works as any ordinary one would until you unfurl the chute, which is called as wings by its creators, and power up the fan. According to a new Kickstarter page, where the designers aim to raise money for the project, the bicycle takes off from any open space and reaches 4,000 feet, and it can reach 25 mph in the air. Designers- John Foden and Yannick Read - seek about 76,000 dollars to turn the idea into a product.