Laka raises $12 million

London-based bicycle insurance provider Laka has raised $12 million in Series A funding. The round was led by US mobility investor Autotech Ventures with participation from sustainable mobility and energy fund Ponooc, and ABN AMRO Ventures. Existing investors Creandum, LocalGlobe, 1818 Ventures, and Elkstone Partners, also participated in the round.

Founded in 2016, Laka will use the funds to expand across Europe, launching in Belgium, France, and Germany in the first half of 2022. The company will also expand its product offering to e-scooters, e-mopeds and e-cars with the goal of serving manufacturers, retailers, and leasing businesses.

“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.” – CEO and co-founder of Laka, Tobias Taupitz.

Bottom Line: With this announcement, Laka is entering Zego’s turf.