Caura raises $4.2m seed round
by Startacus Admin
Vehicle management platform, Caura raises major seed funding to support its mission of reducing stress and expense of driving in the UK
We’ve previously featured Caura - the vehicle management platform which eliminates the avoidable hassle, stress, and expenses associated with driving in the UK and we’re delighted to do so again since this fab startup has just raised $4.2 million to expand its products, including a new B2B offering for car manufacturers.
The funding round was led by TwinFocus Capital Partners, with participation from InMotion Ventures (the CVC arm of Jaguar Land Rover), Road Ventures, Pareto Holdings and Quiet Capital.
Founded by Dr Sai Lakshmi, the former Apple exec who also founded Echo, Caura allows users to simply input their vehicle’s registration number to automatically set up payments for services such as city congestion charges, tolls, tax, MOT and insurance.
Sebastian Peck, Managing Director at Jaguar Land Rover’s InMotion Ventures, said: “In-car infotainment systems are currently primarily used for entertainment, communication, and navigation in our Jaguar and Land Rover vehicles. We are really excited about the prospect of seamlessly integrating the Caura platform offering in-car payment for parking, tolls, tax, and congestion, which would be a huge benefit to our customers. We are thrilled to back the Caura team’s vision of delivering a digital ownership experience that is setting a new benchmark for the industry.”
Dr Sai Lakshmi, CEO and founder of Caura, added: “Our goal was to create a single app from which Britain’s 30 million drivers could manage every aspect of their vehicle’s management and maintenance, from MOT to tax to parking. Drivers today have dozens of single-use apps to manage this functionality, and since launch in 2020, we have demonstrated Caura’s value and benefits for tens of thousands of UK drivers. This funding will enable us to realise our vision and expand to all drivers with native in-car systems, starting with Jaguar Land Rover, and for Android and web users as well.”
Exciting times ahead for this innovative startup!
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Published on: 18th June 2021
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