London-based cyclist InsurTech startup Laka has secured more than £10.6 million (US$12 million) to advance its insurance model, EU-Startups reported on Wednesday, January 26.
The round was led by California-based early-stage venture capital firm Autotech Ventures, Amsterdam sustainable mobility investor Ponooc, and European bank ABN AMRO Ventures. Existing investors Creandum, 1818 Ventures, LocalGlobe, and Elkstone Partners also participated.
The dramatic growth in sales of bicycles and scooters has been spurred by the trend toward environmentally friendly transportation. COVID-19 has also played a part in the increased for eMobility.
CEO and Co-founder Tobias Taupitz said 2021 was key for Laka as it moved from direct-to-consumer sales retail and commercial partnerships.
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