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Browne Jacobson advises London based insurance disrupter Laka on further venture capital investment

27 June 2022

Browne Jacobson’s corporate tech lawyers have advised specialist bicycle insurer Laka on an investment from Porsche Ventures (a venture capital division of Porsche AG), bringing its series A investment round to a total of $13.5m.

The series A round was led by US mobility investor Autotech Ventures with participation from sustainable mobility and energy fund Ponooc (a Dutch, sustainable mobility investor with close ties to the world’s largest bike seller, Pon) and ABN AMRO Ventures. Existing investors including Creandum, LocalGlobe, 1818 Ventures and Elkstone Partners followed on.

The capital injection will further support the insurance disruptor’s strategic expansions plans into Germany and into wider Europe and will also open up various networking opportunities. The business will also continue to push on with its long-term ambitions to broaden its product line to include, e-scooters, e-mopeds and electric vehicles (EVs).

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

Browne Jacobson’s London based corporate finance and tech partner Jon Snade led on the deal, alongside senior associate, Harry Pearson and associate, Shania Sood.

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