Gapless, a 20-person startup based in Berlin that is building the world’s first blockchain platform for vehicle management, has picked up €5.5 million in new funding.
The investors in the round include Porsche – the carmaker has been a strategic partner and financial backer of the startup since it was founded in 2018 – as well as the FinLab EOS VC Fund (a joint venture between FinLab and Block.one), and insurance entrepreneur Kersten Jodexnis, with his family office LA ROCA Capital.
Previously, the blockchain tech startup was part of the global accelerator program STARTUP AUTOBAHN, powered by Plug and Play.
Gapless develops an app that enables users to build up a complete history of any vehicle, but is looking to grow it into a ‘platform for things you love’. With the fresh cash, the young company is also looking to expand its user base and build upon the blockchain protocol EOSIO, which is developed by the aforementioned Block.one.
Gapless claims it already manages more than 50,000 vehicles on its platform, with most users of the so-called ‘digital garages’ coming from the US, UK and Germany. It aims to double its user base by the end of this year.
“We are pleased to welcome Gapless as a new investment in our portfolio,” says Stefan Schütze, Managing Director of the FinLab EOS VC Fund, which led the seed round. “Gapless shows how blockchain technology can change services from the ground up – and always thinks from the user’s perspective.”