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Ornikar raises $120m in funding round led by KKR

French road safety scaleup Ornikar has secured an investment of $120m ( €100m) in Series C funding round led by investment firm KKR.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

The latest funding round was also joined by the company’s existing investors Idinvest, BPI, Elaia, Brighteye and H14.

Ornikar is an online driver education platform and training marketplace, with over 1.5 million clients. It forayed into France’s $20bn car insurance market last year by rolling out Ornikar Assurance.

Ornikar, which is now member of a French Tech 120, added 420,000 new users in 2020.

The company currently offers drivers education services in France and Spain, while insurance is offered only in France.

It intends to use the proceeds to expand its business in more markets.

Ornikar co-founder and CEO Benjamin Gaignault said: “We are very proud to have KKR join our established investors to support our goal of becoming a global leader in road safety. We have proven the effectiveness, sustainability and flexibility of the model we created, including showing that Ornikar can be replicated outside France.

“Our ambitions are far-reaching and we aim to drive innovations that re-imagine how drivers are trained and insured. KKR is a first-rate investor and will be a huge asset in accelerating our international rollout for training, car insurance, and other driver services.”

Patrick Devine, director at KKR and member of the Next Generation Technology Growth investment team, said: “Ornikar has done a tremendous job creating a great experience for students and driving instructors through engaging online education courses and a well-designed marketplace.

“We are thrilled to invest behind Benjamin, Flavien, and their talented team as they expand internationally and accelerate their insurance offering following the successful launches of Onroad in Spain and Ornikar Assurance.”

Investment in Ornikar is KKR’s third in French technology startup ecosystem. It previously made investments in Ivalua and Fotolia.

Overall, this is KKR’s sixth investment in France over the last 12 months.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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