Bike insurance company Laka receives investment from Porsche Ventures – Business

Laka secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG.

That brings its Series A, led by Autotech Ventures and followed by Ponooc, a Dutch sustainable mobility investor with close ties to Pon, and ABN AMRO, to $13.5 million.

Laka said he will use the new capital and network opportunities to facilitate his European expansion. The company will expand its product offering to electric scooters, electric mopeds and eventually electric cars to better serve Europe-wide partnerships including manufacturers, retailers and leasing companies.

Patrick Huke, Head of Porsche Ventures, Europe and Israel, said: “The growing digitization and variety of sustainable mobility offerings drive the need for an innovative, customer-centric offering in the digital insurance space.

“With the investment in Laka, we are pleased to support a strong team that approaches the global insurance market with a unique, highly adaptable and digital business model that focuses on customer experience first and foremost.”

Laka will explore opportunities with the Porsche Ventures portfolio to build the backbone to support the electric mobility segment, initially partnering with German cycling brand Cyklaer to offer new and existing customers integrated digital insurance products .

Cyklaer will join Laka’s partners which include Decathlon, Raleigh and Le Col, as well as Santander Consumer Finance and Monzo. Partnerships enable brands to deliver end-to-end digital experiences by immediately protecting their customers from theft and damage at the point of sale.

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Tobias Taupitz, CEO and Co-Founder of Laka, said, “2021 has truly represented an inflection point for Laka as we transitioned from pure direct-to-consumer gaming into retail and commercial partnerships.

“E-mobility is redefining transportation globally, and Laka set out to build the backbone to support the e-mobility segment at a time when ‘Net Zero Emissions’ has rightly become a priority for consumers. , business and government policy. To support this transition to a greener future, we have a bold vision to become the world’s largest electric mobility insurance partner.”

Porsche Ventures has joined the list of existing investors, including Autotech Ventures, Ponooc, ABN AMRO Ventures, Creandum, LocalGlobe, 1818 Ventures and Elkstone Partners.

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Justin D. O'Neill