The cash is part of an overall £480m investment to get one million more people playing sport.
Plans include a new network of traffic-free cycle facilities and employing more regional competition development officers, Go-Ride coaches and staff on British Cycling’s Everyday Riding programme.
British Cycling’s chief executive designate, Ian Drake, said: “This is a fantastic result for British Cycling. It will ensure we can continue to get more people participating in cycling for sport and regular recreation. It will also enable us to continue to develop our playground-to-podium talent system through the successful Go-Ride programme.”