Connect with us

Techcrunch

Facebook strikes global licensing deal with Indian music label Saregama

Avatar

Published

on

Facebook said on Wednesday it has entered into a global deal with Saregama, one of India’s oldest music labels, to license its music for video and other social experiences across its eponymous service and Instagram.

The partnership, which comes weeks after Swedish music giant Spotify also signed a deal with Saregama, will allow users to choose from a wide variety of music to add to their social experiences such as videos, stories via music stickers and other creative content, Facebook said. Users will also be able to add songs to their Facebook profile.

Saregama, one of the oldest music labels in the world, is the best place to find tracks from several India music legends including Lata Mangeshkar, R.D. Burman, Mohammed Rafi, Talat Mahmood, Manna Dey, Kalyanji-Anandji, and Hemant Kumar. The giant says its library contains over 100,000 songs, ghazals, and more in over 25 languages.

Facebook maintains similar deals with other music labels in India, its biggest market by users count, including Yash Raj Films, Zee Music Company, and T-Series, one of the top YouTube channels worldwide. Bloomberg reported last year that Facebook was also in talks with international music labels and had started testing video music in India and Indonesia.

“At Facebook, we believe music is an integral part of self-expression and bringing people closer together and creating memories that last. We are very proud to partner with Saregama that will allow people on our platforms, globally, to use their favourite retro Indian music to further enrich their content on our platforms,” said Manish Chopra, Director and Head of Partnerships at Facebook India, in a statement.

Facebook has also signed deals with music labels such as Universal Music Group in the past to license its recorded music and publishing catalogs for video and other content across its services including Oculus. In 2018, Facebook also signed a deal with Spotify to allow users to share Spotify albums, tracks to Instagram Stories — a feature it added to Facebook Stories last year.

Source: https://techcrunch.com/2020/06/02/facebook-strikes-global-licensing-deal-with-indian-music-label-saregama/

Techcrunch

Dutch startup Go Sharing raises $60M to expand beyond e-mopeds and into new markets

Avatar

Published

on

On-demand access to electric mopeds — the small, motorised scooters that you sit on, not kick — has been a small but persistent part of the multi-modal transportation mix on offer to people in cities these days. Today, a startup out of The Netherlands is announcing some funding with ambitions to make e-mopeds more mainstream, and to expand into a wider set of vehicle options.

Go Sharing, which has a fleet of around 5,000 e-mopeds across in 30 cities in three countries — The Netherlands, Belgium and Austria — has picked up €50 million (around $60 million). The startup, based near Utrecht, plans to use the funding to expand its footprint for e-mopeds; add electric cars and e-bikes to its app; and continue building out the technology underpinning it all.

Go Sharing believes tech will be the answer to creating a profitable operation, using AI algorithms to optimize locations for e-mopeds, encouraging people to drop off in those locations with incentives like discounts, and keeping that network charged.

Germany, the UK and Turkey are next on Go Sharing’s list of countries, the company said.

The funding is being led by Opportunity Partners — a firm based out of Amsterdam that also backs online supermarket Crisp, with the startup’s founders — CEO Raymon Pouwels, Doeke Boersma, and Donny van den Oever — also participating. A previous round of about $12 million came from Rabo Corporate Investments, the VC arm of the banking giant.

In a world where we now have many choices for getting around cities — taxis, public transport, push and electric bikes, scooters, walking, carpools, car rentals or our own cars — e-mopeds occupy an interesting niche in the mix.

They can be faster than bikes and scooters — 25 km per hour is a typical speed limit in cities, 40 km per hour in less dense areas — more agile than cars, completely quiet compared to their very noisy fuel-based cousins, and of course much more eco-friendly. For those managing fleets, they less likely to break down and need replacing than some of the other alternatives like e-bikes and e-scooters.

But they also represent a higher barrier to entry for picking up customers: riders need a license to operate them as you would other moving vehicles, and in some (but not all) places they need to wear helmets; and the operators of fleets need to sort out how required insurance will work and need special permits as a vehicle provider in most places, and they can also face the same issue as other vehicles like bikes and kick scooters of being a public nuisance when parked.

That mix of challenges — and the fact that fleets can be expensive to operate and might even if all the boxes are ticked still not attract enough users — has meant that the e-moped market has been a patchy one, with some startups shutting down, some cancelling cities after low demand, or retreating over and then returning with better safety measures.

Yet with on-demand transport companies increasingly looking to provide “any” mode in their multi-modal plays to capture more consumers at more times, they remain a class of vehicle that the bigger players and newer entrants will continue to entertain. Lime earlier this year said it was adding e-mopeds to its fleet in certain cities. Uber teamed up with Cityscoot in Paris to integrate the e-moped’s fleet into its app. Cityscoot itself raised some funding last year and is active in several cities across Europe.

And while it can be work to get permits and other regulatory aspects in place to operate services, Pouwels said that Go Sharing was finding that many municipalities actually liked the idea of bringing in more e-mopeds as an eco-friendly alternative to more vehicles — the idea being to provide a transport option to people who are not interested in kick-scooters or bikes and might have driven their own cars, meaning they already have licenses.

The eco-friendly option is also motivating how the company is planning out other parts of its strategy:

“What we have heard from regulators is that they want to motivate people to walk or move in other ways, for example with bicycles,” Pouwels said in an interview. “What we’ve seen with kick scooters is that they ‘deactivate’ people. This is why we see bikes [not adding e-scooters] as the healthy way of moving forward.” The plan with adding electric cars, he said, is to address the needs of people to travel longer distances than shorter inner-city journeys.

Handling supply for its services is coming by way of GreenMo, a sister operation run by Boersma that has been procuring and running a rental service of e-mopeds that are used by drivers for delivery services, with some 10,000 bikes already used this way. GreenMo recently acquired Dutch startup e-bike and a took a majority stake in Belgian company zZoomer, to expand its fleet.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://techcrunch.com/2021/04/22/dutch-startup-go-sharing-raises-60m-to-expand-beyond-e-mopeds-and-into-new-markets/

Continue Reading

Startups

9 investors, execs and founders discuss Zagreb’s startup potential

Avatar

Published

on

Startups may not spring to mind when speaking about the beautiful country of Croatia. Indeed, the country is most popular as a tourist destination, and given that tourism accounted for about 20% of its GDP in 2018, to an extent, its pre-pandemic focus was mostly on growing its share of the international tourism market.

But Croatia’s entrepreneurs haven’t been quiet: Startups like Infobip and Rimac are significant local hero businesses now, and the region can boast of high-quality talent in the tech, automotive, manufacturing, and agtech spaces. With only two venture capital firms operating in the capital of Zagreb, the startup scene is still young, but the country’s relatively recent EU membership has given it access to a growing set of direct investment instruments.

The current tax framework on capital gains tax (zero if you hold the shares for more than two years) and a new ‘digital nomad’ visa are helping to attract investors and talent to the city, which is also close to some of the best beaches in the world.

Access to fresh, outside capital is always a catalyst for growth, so to get an inside look at Zagreb’s fast-growing startup ecosystem, we spoke with nine local founders, investors and C-level executives.

According to the respondents, Zagreb’s strongest tech areas include HR solutions, automotive, fintech, mobile gaming, IoT, insurtech, and AI. The city’s angel investor scene isn’t very strong yet, but that could be attributed to the ecosystem’s youth.


Use discount code ZAGREB2021 to save 25% off an annual or two-year Extra Crunch membership.
This offer is only available to readers in Europe and expires on May 30, 2021.


The city has an excellent work-life balance, and most of the talent wants to stay there. “Now, with the COVID-19 pandemic, it’s easier to land remote jobs and stay in Zagreb, which will positively impact our ecosystem,” one of the investors said.

However, with competition heating up, startups looking for larger, serious investment will probably have to look beyond the country’s borders while trying to retain their engineering talent. Luckily, an increasing number of international investors are looking at Zagreb for their deal flow pipeline.

Some top Croatian startups include: Agrivi, Amodo, Ascalia, Bellabeat, Cognism, Degordian, Dok-Ing, Infobip, Mindsmiths, OptimoRoute, Oradian, Photomath, Repsly, ReversingLabs, ScoreAlarm, Sportening and AdScanner.

We surveyed:


Lucija Ilicic, CEO, PlatePay

Which are the most interesting startups in your city?
Photomath, Sportening, and Mindsmiths.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?
Mostly revenue-oriented.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out, or will others move in?
People would choose to live and move here during the pandemic. Some of them did, especially having in mind that Croatia now has the digital nomad visa.

Who are the key startup people in your city? (e.g. Investors, founders, lawyers, designers, etc)
Investors: Fil Rouge Capital, Feelsgood, Zicer, Bird Incubator; Founders: Ivan Klarić, Damir Sabol, Mislav Malenica, Mate Riimac

Where do you see your city’s tech scene in five years?
The Croatian startup ecosystem really grew during last year and has huge potential. I see it as a perfect place for digital nomads, home of a few new unicorns and a European center for AI solutions development.

Can you recommend any companies that should appear in our global Startup Battlefield competition?
Sportening, Mindsmiths, and of course, PlatePay.

Julien Coustaury, partner, Fil Rouge Capital

Which sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?
Strong in fintech, automotive, insurtech, and AI. We are excited that the whole ecosystem is growing strong with flagships such as Rimac, Optimoroute, Oradian, Infobeep, Agrivi, Tvbeat, Orqa, and Bellabeat, and our relevant funding partners with us and a new PE fund that have just been creating. There is money, talent and we have unicorns in Croatia. Very few weaknesses in Croatia at the moment, especially with the current tax framework on capital gains (zero if you hold the shares for more than two years) and the digital nomad visa. A giant leap for the region!

Which are the most interesting startups in your city?
Oradian, Lebesgue, Optimoroute, Gideon Brothers, Worcon, TVbeat, Orqa, Ascalia, Epoets Society, Hoss, Jade, Miret, My Valet, Sendbee, She’s Well, Spotsie, Taia, TDA, and Twire.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?
The ecosystem still a bit small to talk about the vertical focus. [We have] two active funds: SC ventures and Fil Rouge Capital. FRC runs an accelerator program along the YC model. The angel scene is a bit disappointing at the moment with not a lot of investments. Funderbeam [is] pretty active here. The quality and quantity is amazing at the moment in Croatia, probably a factor of the ecosystem being rather young.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out, or will others move in?
The current fiscal climate makes it very attractive for people to relocate/stay in Zagreb, no doubt. One million people here; proximity to one of the best seas in the world — all the ingredients are here to make it the beacon of the up and coming startup world!

Who are the key startup people in your city? (e.g. Investors, founders, lawyers, designers, etc)
FRC is definitely the main player in Zagreb; SC ventures, Funderbeam, Novak Law for lawyers, Algebra University, ZICER, Hub 385, Step RI.

Where do you see your city’s tech scene in five years?
No doubt a key hub in Europe on par with Vienna.

Can you recommend any companies that should appear in our global Startup Battlefield competition?
Oradian, Lebesgue, Optimoroute, Gideon Brothers, Worcon, TVbeat, Orqa, Ascalia, Epoets Society, Hoss, Jade, Miret, My Balet, Sendbee, She’s well, Spotsie, Taia, TDA, and Twire.

Josip Orsolic, CEO, Lilcodelab

Which sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?
IT, automotive, manufacturing, farming (different SaaS and IoT solutions).

Which are the most interesting startups in your city?
Rimac Automobili, Microblink, Five, Nanobit, Agrivi.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?
It’s a small circle of people and not a lot of diversity, although it is getting better. Many new young successful investors emerged in the last few years.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out, or will others move in?
They will stay, maybe go to the suburbs, but just looking at the rental prices for flats/apartments I don’t see any shift in people moving outside of the city.

Who are the key startup people in your city? (e.g. Investors, founders, lawyers, designers, etc)
Mate Rimac, Damir Sabol, Alan Sumina, Tomislav Car, Luka Abrus.

Where do you see your city’s tech scene in five years?
I believe the tech scene is going to grow more and more. Many companies from other countries are opening up engineering hubs in Zagreb. There is a lot of talent, people are drawn to tech jobs; it is heavily covered by the media. Each success is celebrated and covered by the media, so there is a feeling that tech companies are being pushed, even though there are other successful companies from other industries.

Can you recommend any companies that should appear in our global Startup Battlefield competition?
Agrivi, Parklio, Seek and Hit, Electrocoin, TestDome, Include.

Vedran Tolic, founder & CBO, Q agency

Which sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?
Strongest: Online betting, HR solutions, fintech, mobile gaming, IoT.
Weakest: Gaming for serious platforms; AI solutions are still in their infancy.

Which are the most interesting startups in your city?
PhotoMath, Agrivi, SofaScore, TalentLyft, Jenz, and Bellabeat.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?
The scene is getting stronger, but for any serious investment, startups have to look beyond our borders.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out, or will others move in?
Zagreb has an excellent work-life balance, and most of the talent want to stay here. Now, with the COVID-19 pandemic, it’s easier to land remote jobs and stay in Zagreb, which will positively impact our ecosystem.

Who are the key startup people in your city? (e.g. Investors, founders, lawyers, designers, etc)
Founders: We have many charismatic founders who are raising awareness around startups and entrepreneurship in general. They are reaching large audiences and getting attention from government, the education system and the public.

Where do you see your city’s tech scene in five years?
Shifting from mostly agency work for foreign companies to a more product-oriented scene — especially in AI and ML. Products will revolve around customer and employee engagement, automation and prediction of processes which are today done by a large workforce.

Can you recommend any companies that should appear in our global Startup Battlefield competition?
Photomath, Agrivi, Bellabeat, Jenz

Bozidar Pavlovic, managing director, airt

Which sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?
AI, SaaS, electric cars manufacturing, and software development in general.

Which are the most interesting startups in your city?
Rimac Automobili, Nanobit, Infinum, Five, Agrivi, Aircash, Identyum, Airt, Mindsmiths, Electrocoin, Agency 04, Oradian, Microblink, Photomath, Agency Q, Revuto, Optimoroute, Amodo, Lemax, Ampnet, RobotiqAI, and Velebit AI.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?
The scene is growing recently — Zagreb is capital of Croatia, thus attracting capital and people. A recent near-unicorn (Rimac, with heavy investment from Hyundai and Porsche) helped raise visibility for this vibrant ecosystem.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out, or will others move in?
Even before the pandemic, Zagreb was very attractive for tech experts worldwide due to its appealing price of accommodation, security, comfort of living and relatively high salaries. I am expecting to see the masses return after vaccination.

Who are the key startup people in your city? (e.g. Investors, founders, lawyers, designers, etc)
Davor Runje, Nikola Pavesic, Drazen Orescanin, Frane Sesnic, Tin Tezak, Ante Magzan, and Luka Sucic.

Where do you see your city’s tech scene in five years?
I see it blooming, mostly due to upcoming adoption of EUR as a local currency.

Can you recommend any companies that should appear in our global Startup Battlefield competition?
Amodo, Agrivi, Photomath, Identyum.

Matej Zelic, COO, Spotsie

What industry sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?
Oil and energy, Industry 4.0. Most excited to be a part of digital transformation in the old-fashioned industries.

Which are the most interesting startups in your city?
Rimac, Agrivi, Oradian, Miret, SofaScore.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?
The startup ecosystem in Croatia is still in early stages of development. The investment scene (except a few business angels) started a  few years ago backed by EU with just two VCs (FRC and SVC) without a strategic plan and focus.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out, or will others move in?
People will stay here.

Who are the key startup people in your city? (e.g. Investors, founders, lawyers, designers, etc)
Fil Rouge Capital, South Central Ventures. Mate Rimac, Damir Sabol, Frane Sesnic

Where do you see your city’s tech scene in five years?
Because of micro-location, the digital nomad program, and IT talent pool, Zagreb is on the way to becoming the No. 1 tech location in CEE and Europe.

Can you recommend any companies that should appear in our global Startup Battlefield competition?
Gideon Brothers, Spotsie.

Miroslav Kovac, CEO, Coffee Cloud

Which sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?
IoT, software analytics, big data, coffee industry.

Which are the most interesting startups in your city?
Agrivi, Repsly.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?
Very poor startup ecosystem.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out, or will others move in?
Most of the last year was in partial lockdown.

Who are the key startup people in your city? (e.g. Investors, founders, lawyers, designers, etc.)
Sasa Cvetojecic, Hrvoje Prpic, Fil Rouge Capital, Bird Incubator.

Where do you see your city’s tech scene in five years?
At the same place.

Vedran Blagus, investment manager, South Central Ventures

Which sectors is your tech ecosystem strong in? What are you most excited by? What is it weak in?
Industry is very agnostic. Most of them work in B2B or the enterprise space. They lack B2C knowledge, growth/expansion plan and investor relations.

Which are the most interesting startups in your city?
AdScanner, Agrivi, ReversingLabs, TalentLyft, Sportening, Codemap, Gideon Brothers.

What are the tech investors like? What is the investment scene like in your city? What’s their focus?
Two VCs operating – Fil Rouge Capital (Pre-Seed, Seed, Series A – industry agnostic; B2C and B2B) and South Central Ventures (Seed, Series A, B2B). In the past six to twelve months, C-level executives from corporates started investing in startups in early stages (up to EUR 200k), but keep their investments below the radar.

With the shift to remote working during the COVID-19 pandemic, will people stay in your city, move out, or will others move in?
I believe that it will stay the same as it is. Development/operations in Zagreb, expansion to other European cities by opening offices there.

Who are the key startup people in your city? (e.g. investors, founders, lawyers, designers, etc)
Founders – Matija Zulj, Marin Curkovic, Mate Rimac, Marin Saric, Alan Sumina, Matija Kopic.
Investors – Luka Sucic, Stevica Kuharski, Vedran Blagus.
Lawyers – Marijana Sarolic Robic.
Media – Ivan Brezak Brkan, Bernard Ivezic.

Where do you see your city’s tech scene in five years?
Founders who exited companies they’ve been building for the past 10 years will found new companies and/or invest in early stage startups. More international investors looking at Zagreb for pipeline/investments.

Daniel Stefanic, investor

Which are the most interesting startups in your city?
Infobip, Rimac seem to be hottest ones in Croatia.

Where do you see your city’s tech scene in five years?
There’s some incredibly smart people involved in STEM in Croatia – world class. They just need better pathways to commercialisation and access to capital.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://techcrunch.com/2021/04/21/9-investors-execs-and-founders-discuss-zagrebs-startup-potential/

Continue Reading

Startups

Oath Care just raised $2 million to develop a social, health-focused app that groups expectant and new parents

Avatar

Published

on

Being an expectant mom can be frightening, as can mothering an infant or toddler. The answers don’t come automatically, and while there’s no shortage of books and websites (and advice from grandparents) about how to parent at every stage, finding satisfying information often proves a lot harder than imagined.

There are online social groups that deliver some of the social and emotional support that new parents need, no matter where they live. There are many dozens of mom communities on Facebook, for example. However, it’s because there’s room for improvement on this theme — big groups can feel isolating, bad information abounds —that Oath Care, a young, four-person San Francisco-based startup, just raised $2 million in seed funding from XYZ Ventures, General Catalyst, and Eros Resmini, former CMO of Discord and managing partner of the Mini Fund.

What is it building? Founder Camilla Hermann describes it as a subscription-based mobile app that’s focused on improving the lives of new mothers by combining parents who have lots in common with healthcare specialists and moderators who can guide them in group chats, as well as one-on-one video calls.

More specifically, she says, for $20 per month, Oath matches pregnant and postpartum moms in circles of up to 10 based on factors like stage of pregnancy, age of child, location, and career so they can ask questions of each other, with the help of a trained moderator (who is sometimes a mother with older children).

Oath also pushes curriculum that Oath’s team is developing in-house to members based on each group’s specific needs. Not last, every group is given collective access to medical specialists who can answer general questions as part of the members’ subscription and who are also available for consultations when individualized help is needed.

Hermann says the pricing of these 15-minute-long consultations is still being developed, but that the medical experts with whom it’s already working see the app as a form of lead generation.

It’s an interesting concept, one that could be taken in a host of directions, acknowledges Hermann who says she was inspired to cofound the company based on earlier work developing a contact tracing technology created to track outbreaks like Ebola in real time.

As she said yesterday during a Zoom call with TechCrunch and her cofounder, Michelle Stephens, a pediatric clinician and research scientist: “We’ve fundamentally misunderstand something really important about health in the West; we think that [changes] happen to one person at a time or one part of the body at a time, but it always happens in interconnected systems both inside and outside the body, which fundamentally means that it is always happening in community.”

For her part, Stephens — who was introduced to Hermann at a dinner years ago — says her motivation in cofounding Oath was born out of research into childhood stress, and that by “better equipping parents to be those positive consistent caregivers in their child’s life,” Oath aims to help enable stronger, more intimate child-parent bonds.

It might sound grand for a mobile app, but it also sounds like a smart starting point. Though the idea is to match mothers in similar situations at the outset to help bolster theirs and their children’s health, it’s easy to imagine the platform evolving in a way that brings together parents in numerous groups based on interests, from preschool applications to autism to same-sex parenting. It’s easy to see the platform helping to sell products that parents need. It’s easy to imagine the company amassing a lot of valuable information.

Indeed, says Hermann, the longer-term vision for Oath is to create rich datasets that it hopes can be used to improve health outcomes, including by identifying health issues earlier. Relatedly, it also hopes to build relationships with health systems and payers in order to increase access to its products.

For now, Oath is mostly just trying to keep up with demand. Hermann says the “small and scrappy” company found its first 50 users through Facebook ads, and that this base quickly tripled organically before Oath was forced to create a growing waitlist for what has been a closed beta until now. (Oath is “anticipating a full launch in late summer,” says Stephens.)

That’s not to say the company isn’t thinking at all about next steps.

While right now it is “laser focused on building out the most exceptional experience for this specific cohort of users in this specific period of time of their lives,” says Hermann, once it builds out many more communities of small trusted groups with “high engagement and high trust,” there is “a lot you can layer on top of that. It’s virtually limitless.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://techcrunch.com/2021/04/21/oath-care-just-raised-2-million-to-develop-a-social-health-focused-app-that-groups-expectant-and-new-parents/

Continue Reading

Automotive

Ornikar raises $120M as its driving school marketplace goes up a gear with car insurance

Avatar

Published

on

A French startup that set out to bring a new approach to driver education and road safety, and then used that foothold to expand into the related area of car insurance, is today announcing a big round of funding to continue building its service across Europe.

Ornikar, which prepares people for driving tests by providing online drivers education courses, lets those users organize in-person lessons with driving instructors, provides a booking system for taking their written and practical examinations, and finally provides them with competitive rates for getting car insurance as new drivers, has raised €100 million ($120 million).

The company intends to use the funding to expand its business. Drivers education services are live today in France and Spain, while insurance is offered today only in France: the plan will be to expand both of those to more markets.

The Series C is being led by KKR, with previous investors Idinvest, BPI, Elaia, Brighteye, and H14 also participating. Benjamin Gaignault, Ornikar’s CEO who co-founded the company with Flavien LeRendu (who also jointly holds the title of CEO), said the startup is not disclosing its valuation, but we understand from a source that it is around $750 million. The company has raised $175 million to date.

Ornikar has been around since 2013 and was founded, in Gaignault’s words, “to disrupt driving education.”

Coming into the market at a time when most of the process of organizing, learning and booking your driving education was not only very fragmented but completely offline, Ornikar’s internet-based offering represented a step change in how French people learned to drive: the process not only became easier, but on average about 40% cheaper to arrange.

Ornikar’s driving education business today includes not just online course materials and booking services, but a network of instructors across 1,000 towns and cities in France, and a business that launched last year in Spain, under the Onroad brand. Some 1.5 million people have taken Ornikar’s driving education courses to date, with another 2 million using its driving school, with growth accelerating: 420,000 new customers signed up with Ornikar in the last year alone.

Last year was a tricky one for companies in the business of transportation. People were generally staying put and not traveling anywhere, but when they were getting around, they wanted plenty of their own space to do so.

Translating that to markets like France and Spain where many towns will have solid public transportation and taxi services, people might have opted to use these less, looking instead to private vehicles in their place. And translating that to Ornikar, Gaignault said that people being at home more, and looking to use the time productively with a view to driving more in the future, the startup saw business growing by 30% each month last year.

Interestingly, it was in the middle of the pandemic that Ornikar launched its car insurance product, which came out of the same impetus as the driver education services: it was built to fill a hole in the market rethought with Ornikar’s users in mind.

Car insurance in France — a €17 billion ($20 billion) market annually — is dominated by big players, and when it comes to first-time drivers and looking for competitive rates, “the bigger companies are not comfortable with user experience,” said Gaignault. “It’s pretty poor and not aligned with expectations of the customers.”

The car insurance product — sold as Ornikar Assurance — is now on track to hit some 20,000 users by August (when it will have been in the market for a year).

While it accounts today for a small fraction of Ornikar’s revenues compared to its driver education platform, that take up — not just from alums of Ornikar’s drivers ed, but from those who had never used an Ornikar service before — is a good sign that it’s on to something big, Gaignault said.

“In October we noticed that 80% of our new insurance customers were not coming from Ornikar but from social media, Google ads and other outside sources,” he said. “That’s why we decided to create a new business unit and explore a business as an insuretech.”

But, he added, that will not be at the expense of the driving education: the two go hand in hand for a common goal of improving how people drive and improving road safety. Indeed, Gaignault said he envisions a time when one will feed into the other: not only will the driving school serve as a way of bringing in new insurance customers, but insurance rates can be impacted by how many driving courses a person takes to keep their knowledge of the driving code and best practices fresh.

“Ornikar has done a tremendous job creating a great experience for students and driving instructors through engaging online education courses and a well-designed marketplace,” said Patrick Devine, director at KKR and member of the Next Generation Technology Growth investment team. “We are thrilled to invest behind Benjamin, Flavien, and their talented team as they expand internationally and accelerate their insurance offering following the successful launches of Onroad in Spain and Ornikar Assurance.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://techcrunch.com/2021/04/21/ornikar-raises-120m-as-its-driving-school-marketplace-goes-up-a-gear-with-car-insurance/

Continue Reading
Blockchain3 days ago

Mining Bitcoin: How to Mine Bitcoin

Fintech4 days ago

Fintech offers brokers better commissions after BID

Esports5 days ago

OWL 2021 Power Rankings – #9 Guangzhou Charge

Coinbase hourly chart
Blockchain3 days ago

Coinbase Addresses Future Revenue Concerns With Plans to Become Crypto’s Amazon

PR Newswire4 days ago

Hello Pal Signs Definitive Purchase Agreement to Acquire Interest in Dogecoin/Litecoin Mining Assets

Esports5 days ago

CDL Challengers Elite Stage 3 Preview

Esports5 days ago

xQc Banned From NoPixel GTA RP Server Once Again

Esports4 days ago

Twitch streamer Lando Norris takes Italian F1 Grand Prix podium

Esports4 days ago

Three takeaways from the SWT Japan Ultimate Online Qualifier

Esports4 days ago

Cloud9 Perkz says Kassadin can’t ever be balanced in LoL

Blockchain3 days ago

Did Coinbase Insiders Really Cash Out? It’s Complicated

Blockchain5 days ago

Ontario Securities Commission Just Approved New ETH ETFs

Nano Technology4 days ago

Arrowhead Pharmaceuticals to Webcast Fiscal 2021 Second Quarter Results

Esports5 days ago

Valorant: Meet the top 4 EU teams qualified for VCT EMEA Stage 2 Challengers Final

Fintech4 days ago

HashChing acquires Mystro to further expand its offering to mortgage brokers

Esports5 days ago

Nigma make impressive debut versus Team Secret in Europe Season 2 DPC league

Aviation4 days ago

United Airlines a first quarter 2021 net loss of $1.4 billion

Blockchain3 days ago

Gary Gensler is now head of the SEC. What comes next?

Blockchain4 days ago

Krypto Person der Woche Alex Mashinsky

Blockchain4 days ago

Binance Team to Burn all the Allocated BNB Token

Trending