Caura raises $4.2 million
Caura, the London-based startup looking to make car ownership less painful, has raised $4.2 million in a round led by TwinFocus Capital Partners. InMotion Ventures, the VC arm of Jaguar Land Rover and other angel investors also participated in the round.
Founded in 2018, Caura offers car owners an app where they can get insurance and pay for city charges, tolls, and taxes . The startup plans to use the funding to develop its app and fund future expansion. Part of this will include integrating Caura into the existing Jaguar Land Rover infotainment systems, which will allow drivers to access several of the app’s features from the car.
“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. This funding will enable us to realize 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.” – Sai Lakshmi, Caura’s founder, and CEO.
“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.” – Sebastian Peck, managing director at Jaguar Land Rover’s InMotion Ventures.
“Caura has brought a convenient way for drivers to be compliant and insured into the hands of thousands of Britons. By bringing the systems to users across platforms we are excited to see how this app can change the way drivers buy insurance.” – Hari Hundle, managing partner at TwinFocus Capital.