According to Chipolo.net for Chipolo ONE Spot:
The key finder that works with the Apple "Where's" app.
Add Chipolo ONE Spot to the Apple "Where's" app and hundreds of millions of friends in the "Where's" network will help you find your missing keys. If your keys are hidden nearby, a very loud tone will sound to help you find them. You will receive a notification if you have accidentally left your keys behind or if the Apple "Where's" network has found your missing item. Chipolo ONE Spot attaches directly to your keychain.

The pendant certainly doesn't care whether it's on your key ring or your bike :-)