Redbud VC invests in auto warranty startup

Redbud VC announced its investment in Delaware-based Fair Tech , a provider of auto breakdown protection. Fair’s flagship product, Fair Protect, covers essential systems in vehicles from 2014 and newer, including the engine, transmission, suspension, brakes, steering, electrical systems, and trip interruption. Plans start at $29 per month and offer individuals or businesses access to a network of trusted repair shops, quick 60-second claim filing, and real-time updates throughout the repair process.

The startup, with a team of about three, was founded this year and is led by former Cruise operations head Will Betteridge.

Fair’s platform also includes an embedded insurance component designed for enterprise software, marketplaces, and insurance companies, helping businesses boost revenues by offering consumers transparent, efficient, and tailored auto warranties.

In related news, Chaiz, an Austin, Texas-based marketplace for extended car warranties, has announced it has raised $3.7 million.