France-based home insurance provider Luko has raised $60m of series B funding from investors including Orange Ventures, the corporate venturing subsidiary of mobile phone network Orange.
EQT Ventures, the venture capital arm of investment firm EQT Partners, led the round and was joined by Accel, SpeedInvest and Founders Fund as well as private investors Assaf Wand, Robert Gentz, Brent Hoberman, Rachel Delacour and Thomas Plantenga.
Luko offers home insurance products through an online platform and has insured 100,000 customers since its launch. An alumnus of incubator Station F, it is also developing smart sensor technology to be used in conjunction with its services.
The company plans to launch new products and services in 2021 and expand its offering into at least one new European country. Accel led its $22m series A round in November 2019, investing together with Founders Fund and Speedinvest.
In 2018, Luko had raised $2.3m from Evolem Start, eFounders, the Afflelou family and angel investors including Xavier Niel, Pierre-Yves Durand, Pierre-Olivier Desaulle, Arnaud Le Bihan and Cédric Sennepin.