Caura – a UK vehicle management platform – has 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 venture capital arm of Jaguar Land Rover), Road Ventures, Pareto Holdings and Quiet Capital.
Notable angel investors also joined, including Jon Oringer, founder of Shutterstock and Antony Sheriff, former CEO of McLaren Automotive.
Caura, founded in 2019 by Dr Sai Lakshmi, a former Apple exec, and launched in 2020, manages every aspect of car ownership, including: tolls, MOT, road tax, car insurance, and congestion charges.
Sebastian Peck, Managing Director at Jaguar Land Rover’s InMotion Ventures, says: “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, adds: “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.”
InMotion Ventures, Jaguar Land Rover’s venture capital fund, invests in early-stage technology companies that change the face of urban mobility, support an active outdoor lifestyle and deliver unique travel experiences. It is based in London and invests globally.