Car fee management app Caura raises £3.02m led by Jaguar Land Rover

Car fee management app Caura raises £3.02m led by Jaguar Land Rover

by Pranali Mehta

Caura, a vehicle management app that promises to bring all elements of car management, including paying congestion charges, parking fines, and other car-related fees, together on a single platform, has reportedly raised over $4.2 million (£3.02 million) in its new fundraising round.

According to reports, Jaguar Land Rover’s subsidiary InMotion Ventures was one of the most prominent investors in Caura's recent fundraising round. The automotive firm is looking to integrate the app within its vehicles and provide in-car payment for tolls, congestion, and parking. According to JLR, this would be a significant advantage to its customers.

Road Ventures, Pareto Holdings, and Quiet Capital are among the other firms that have invested in Caura’s investment round. Additionally, the round also saw participation from individual investors, including some unnamed executives from Apple and Google.

The application, named Caura after the firm that created it, functions as a diary for vehicle owners in the United Kingdom, alerting them of major impending events including MOT test, road tax, and insurance expiration dates.

The £3.02 million investment will go toward developing a new B2B-specific edition of Caura's software and perhaps incorporating a feature for managing electric vehicle charging. It would also allow users to pay to access Clean Air Zones, which are low-emission zones that are being opened throughout the nation this year.

CEO and founder of Caura, Sai Lakshmi, stated that the billions of pounds in penalty costs that UK customers pay for parking mistakes and late payment of congestion charges, road tax, tolls, MOTs, and insurance are absolutely avoidable.

The current system, which is fragmented, complex, and out-of-date, is not only expensive but also a major cause of worry. With its app, Caura is reducing the difficulty, confusion, and excessive charges of car ownership by eliminating the need for numerous applications and services, Sai Laxmi added.

Caura is now exclusively accessible for iOS devices, however, it may be made available for Android devices later this year. It has been downloaded by tens of thousands of vehicle owners throughout the United Kingdom and has a 4.8 rating on the Apple App Store.

Source credit: https://www.autocar.co.uk/car-news/industry-news/jaguar-land-rover-backs-caura-car-fee-management-app

 

Pranali Mehta

A chemical engineer by qualification, Pranali Mehta dutifully walked down the slated path and worked in a chemical firm for a year. Her passion for writing however, pushed her into experimenting with the same as a career. With over three years of experience in content writ Read more...