Luko Series-B

This is the Luko pitch deck to raise a $61m series-b round in 2020.

About

Luko is an insurance company that provides a device that focuses on home security and reduces electricity bills. It features an AI-powered sensor designed for monitoring and preventing home accidents. Luko aims to move insurance from a claims-based model to prevention with its proprietary technology.

Luko, a fast-growing French insurance startup, has raised a major new funding round.

Founded in Paris in 2018, Luko has just brought in €50 million ($61 million) in Series B funding led by EQT Ventures. The company focuses on property insurance and says it has grown six-fold since its previous funding round.

The company would have grown ten-fold if not for the coronavirus pandemic, according to its cofounder and CEO Raphael Vullierme.

“We had a few months of lockdown where there was no growth,” he told Business Insider in an interview. Despite the Covid-19 impact on business, the company says its fundraise was competitive.

“We set out a two-week window for funds to submit term sheets at the start of September,” Vullierme said.

EQT Ventures were first over the line and Vullierme said Rania Belkahia, who led the deal for the Swedish fund, was key to the process.

“She used to be an entrepreneur, so we have a similar network and I was very impressed with her work,” Vullierme added. “It’s less common now to have an entrepreneur on your board and I thought this might be the last chance we’d have to do that.”

Existing investors Accel, Founders Fund and Speedinvest also participated in the round. The funding will go towards continuing Luko’s expansion in terms of staff, product, and markets.

Funding rounds

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