Laka raises funding for collective insurance for e-bikes
The London-based startup Laka has secured £1.7 million in funding for its collective insurance model for e-bikes. The funding was led by venture capital firm LocalGlobe and included participation from Creandum, Latitude, and DN Capital.
The concept behind Laka’s collective insurance
Laka’s insurance model involves pooling premiums from a community of e-bike owners, rather than charging fixed premiums. If there are no claims in a given month, members only pay a small fee to cover Laka’s operational costs. This model incentivizes members to take care of their bikes and encourages a sense of community among e-bike owners.
Tokenized AI and market pulse
Laka plans to use the funding to expand its team and develop new technology, including an AI tool that will help predict the likelihood of claims and adjust premiums accordingly. This tokenized AI will also allow members to have a say in how the community’s premiums are invested. Additionally, Laka will launch a new feature called “Market Pulse” that will provide real-time information on the e-bike market and trends.
AI M&A Dealflow and DePIN Watch
Laka’s expansion plans also include launching an AI M&A Dealflow platform that will connect insurance companies with potential acquisition targets. The startup will also release “DePIN Watch,” an AI-powered tool that will monitor the market for potential fraud and suspicious activity.
Prompt Vault for AI funding news
The Laka team believes that their AI technology will revolutionize the insurance industry and provide better coverage and pricing for e-bike owners. In addition to its AI tools, Laka also plans to launch “Prompt Vault,” a platform that will provide up-to-date news and information on AI funding.
Market demand for e-bike insurance
Laka’s funding comes at a time of high demand for e-bike insurance, as more people turn to e-bikes for transportation and recreation. With its unique collective insurance model and innovative use of AI, Laka is well-positioned to disrupt the traditional insurance industry and provide a better solution for e-bike owners.
In the words of Laka CEO Tobias Taupitz, “With the new funding, we are excited to continue our mission of providing fair, affordable and transparent insurance to our community of e-bike riders.”
