Achmea Innovation Fund has backed the micromobility insurer in a round led by Shift4Good.
"In a world where the demand for green and healthy transport options continues to rise but electric bicycles are also becoming increasingly expensive, Laka is at the forefront with innovative solutions."
The Series A round was co-led by General Catalyst and Voyager Ventures to support software development and market expansion.
"We’re delighted with the fundraise, and to be continuing our close work with General Catalyst. I’m also very excited to be welcoming Voyager on board, bringing their deep climate expertise to the world of logistics."
The Cambridge and Coventry based startup has emerged from stealth to advance its simulation platform for electric vehicles.
"We’re extremely excited to be entering this next phase of our business journey. At Monumo, we are driven by a desire to create a sustainable future and we know that the EV market is a crucial entry point for our technology. By partnering with OEMs and tier one engineering companies, our unique combination of simulation, ML, AI and motor design ability can facilitate genuine near-term impact in the EV industry. These incredible results from our motor simulations are just the start as we look to create genuine system level optimisation for the first time. Naturally we’re excited about the company’s next phase of growth."
The accessibility technology company raised the capital to expand into aviation and international markets.
"This significant investment marks a key moment in the growth and history of Transreport and is a huge vote of confidence and trust from our investors, Puma Private Equity and Pembroke VCT, in our vision and ability to execute on our strategic plans. These funds will accelerate our expansion into the aviation sector and continue supporting our entry into the Japanese market in partnership with Hankyu Corporation, Japan’s world-leading railway operator and most importantly provide a better experience for disabled and older people."