Laka, a London-based insurtech startup, has secured $10.4 million in Series B funding to scale its 'collective insurance' model for bikes and e-scooters. Unlike traditional insurance with fixed premiums, Laka uses a variable monthly fee based on the total claims within its user community, capped at a maximum. This system aims to lower costs for riders when fewer claims are made. The company partners directly with consumers and retailers like Decathlon and Brompton Bikes. Laka aims to achieve profitability by the end of next year.