LONDON, UK - British mobility insurance firm Laka has secured $10.4 million (€8.9 million) in a Series B funding round, it announced this week. The move strengthens the company's goal to lead the green mobility insurance market for e-bikes, e-scooters and sustainable transport across nine European Union markets and the United Kingdom. The round was co-led by Shift4Good and MS&AD Ventures, with participation from existing backers including Ponooc and Porsche Ventures.

Riding electric bikes is a lot of fun and has become quite the trend. But there is one crucial point you should consider: taking out an insurance policy for it. In this article, we'll explore the importance of e-bike insurance by discussing the reasons for getting it and the variables that may determine whether it is actually required in the first place. 

LONDON, England - Laka, an insurtech providing a range of insurance and circular economy services to e-bike riders, cyclists and companies has announced a €7.6 million funding round as it "doubles down on growth" with the rise of e-bike sales in Europe. Additionally, the Porsche-backed company has acquired French e-bike broker Cylanto to expand its presence in France.

CHESTER, England - Bikmo, a UK-based specialist cycle and e-mobility insurer has raised £3.4 million (€3.9 million) in a Series A extension round to accelerate European expansion and drive product innovation. The specialist insurer currently protects over 75,000 riders in the UK, Ireland, Germany and Austria through strategic partnerships with brands such as British Cycling, Cyclescheme and folding bike specialist Brompton.

LUXEMBOURG, Luxembourg - A fatal accident with an e-bike in Belgium years ago started a dispute about the legal classification of the electric bicycle. Should it be regarded as a 'vehicle' and be covered by a mandatory insurance like other vehicles? Finally, the Court of Justice of the European Union has ruled that e-bikes are not covered by this obligation because e-bikes are not propelled exclusively by mechanical power.

LONDON, UK - To facilitate its European expansion, insurance company Laka has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG. This brings its Series A, led by Autotech Ventures and by Ponooc, who has close ties to Pon, and ABN AMRO, to €12.7 million.