Porsche-backed blockchain startup Gapless raises $6 million in fresh funding

Gapless, the Porsche-backed blockchain startup for vehicle management, has raised ‎€5.5 million (~$6 million) in fresh funding.

The round was led by FinLab EOS VC Fund, a joint venture between FinLab AG and EOSIO blockchain developer Block.one, with participation from existing investors Porsche and Germany-based insurance entrepreneur Kersten Jodexnis via his family office LA ROCA Capital.

Founded in 2018, Gapless provides a blockchain-powered app that allows vehicle owners to digitize documents, photos and other information. Gapless says it currently manages more than 50,000 vehicles on its platform and aims to double the number to 100,000 in the near future.

Gapless currently employs 20 people, and plans to utilize the fresh capital to grow its platform further using the EOSIO blockchain. It remains unclear how much in total Gapless has raised in funding to date. The Block has reached out to the firm and will update this story should we hear back.

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Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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