83North leads $10m series-A in MotorK

Currently focused exclusively on the European market, the company aims to use the capital injection to expand its business globally, according to a statement. Additionally, the management team will look to boost the team and the product offering.

As part of the deal, 83North's partners Laurel Bowden and Arnon Dinur will join the company's board, alongside Zobito partners Måns Hultman and Magnus Lindhe, as well as high-net-worth investor Mauro Pretolani.

Formerly known as Greylock Partners, 83North is a London- and Tel Aviv-headquartered venture capital firm with $550m in assets under management. The firm focuses on the European and Israeli markets.

Swedish venture capital house Zobito recently launched its second vehicle and currently manages nine companies in its portfolio, according to the company's website.

Company
Founded in 2010, MotorK is an online marketplace focused on the automotive industry. The business develops DriverK, a digital marketplace for new vehicles, and DealerK, a software-as-a-service focused on maintenance service providers.

Headquartered in Milan, the company also has a presence in London, Madrid, Munich, Paris and Agrigento, and employs a staff of 200.

People
83North – Laurel Bowden, Arnon Dinur (partners).
Zobito – Måns Hultman, Magnus Lindhe (partners).
MotorK – Marco Marlia (founder).

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• Topics
• Expansion
• Technology
• Southern Europe
• Venture
• Italy