Laka secures $12m in Series A funding to scale European expansion
The financing round was led by Autotech Ventures with participation from several new and existing investors.
Laka provides collective insurance for green mobility users and partners with major transport brands across Europe.
London-based insurtech Laka has raised $12m in Series A funding to accelerate its expansion across Europe. The financing round was led by Autotech Ventures, with participation from Ponooc, ABN AMRO Ventures, Creandum, LocalGlobe, 1818 Ventures, Elkstone Partners, and angel investor Eric Min.
The company will use the capital to launch in Belgium, France, and Germany during the first half of 2022. Additional plans include doubling its remote-first workforce, scaling customer experience operations, and developing deeper API integrations and behavioural risk modelling capabilities.
From the founder
"2021 truly depicted an inflection point for Laka as we moved from a pure direct-to-consumer play towards retail and commercial partnerships. E-mobility is redefining transport globally, and Laka has set out to build the backbone to support the e-mobility segment at a time when “Net Zero Emissions” has rightly become front of mind for consumers, businesses and government policy. To support this shift towards a greener future, we have a bold vision to become the world’s largest e-mobility insurance partner."
Tobias Taupitz
at Laka
Investor perspective
"Autotech Ventures is truly excited to partner with the Laka team. As a transportation focused fund, we’ve been witnessing the explosive growth in personal ownership of two wheelers – especially in light of the pandemic – as well as increased business use cases within logistics."
Burak Cendek
Partner, Autotech Ventures
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Continue product development
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About the company
Laka
Laka offers collective insurance for green mobility users and brands.