UK-based e-mobility insurance company Laka has received new funding from Porsche’s venture capital arm Porsche Ventures.

The additional funding brings its Series A investment to $13.5m. The fundraising round was led by Autotech Ventures, while Dutch sustainable mobility investor Ponooc and ABN AMRO also participated.

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Laka plans to utilise the proceeds to facilitate the company’s expansion across Europe as well as support the cycling and e-mobility sector.

In addition, the company intends to expand its offerings to include e-scooters, e-mopeds and e-cars.

Laka CEO and co-founder Tobias Taupitz said: “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.

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“To support this shift towards a greener future, we have a bold vision to become the world’s largest e-mobility insurance partner.”

Laka is also partnering with German cycling brand Cyklaer to provide built-in digital insurance solutions to its customers.

The company has already partnered with sports retailer Decathlon, cycling brands Raleigh and Le Col along with Santander Consumer Finance and Monzo.

Last month, Laka partnered with AI-based operations management platform Captur to streamline fleet management process for partners.