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.