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Porsche Ventures has invested $1.5m (£1.2m) into British biking insurance coverage supplier Laka as a part of a wider $13.5m (£10.9m) Collection A funding spherical.
Headquartered in London, the corporate is an insurance coverage platform for biking and electrical autos. It plans to supply e-scooter, e-moped and electrical automotive insurance coverage sooner or later and can use the contemporary capital to fund its development throughout Europe.
Patrick Huke, head of Porsche Ventures, Europe and Israel, stated: “With the funding in Laka, we’re happy to assist a powerful staff that’s addressing the worldwide insurance coverage market with a novel, extremely adaptable and digital enterprise mannequin, which focuses above all on the client expertise.”
Laka is partnering with German biking model Cyklaer to supply its prospects its insurance coverage merchandise. Current companions of the corporate embrace Santander Client Finance and Monzo.
The Collection A spherical was led by Autotech Ventures alongside Ponooc, ABN and AMRO Ventures.
“E-mobility is redefining transport globally, and Laka has got down to construct the spine to assist the e-mobility section at a time when “Web Zero Emissions” has rightly develop into entrance of thoughts for shoppers, companies and authorities coverage,” stated Tobias Taupitz, CEO and co-founder, Laka.
Just lately bike and scooter subscription service Bike Membership raised £16.75m in its Collection B spherical.
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