Motorway Series Secures Investment From Butchertech Ventures – 2023

Introduction

Motorway series Ventures Butcher TechCrunch – This article provides information on motorway series ventures. We’ve enclosed the basics of the motorway series investment—the knowledge of how they deal with vehicle auctions. The car industry is moving online, partly about people buying their next car online. Still, it’s also about dealers changing their behavior, how they do business, and where they buy their vehicles. This has been explained welled by the author Mark Butcher.  So, make sure to improve your business skills today!

The below information is based as per the reference I got from the Motorway’s auction platform for second-hand cars raises $67.7M Series B led by Index Ventures. 

Motorway Series Ventures Butcher

What is Motorway?

A motorway is a U.K. startup that permits professional car dealers to bid in an auction for privately owned cars for sale ventures by butcher. The startup has had speedy success by removing much friction in the procedure. It’s now upstretched £48 million / $67.7 million in a Series B circular led by Index Ventures. And new investors BMW I Ventures and Unbound. Present investors Latitude and Marchmont Ventures also participated. From Reference;

Motorway Series

The funding is utilized to extend its platform and grow the 160-strong team. The startup claims it allows customers to sell their car for up to £1,000. Thus, more than they might via other means by uploading its particulars via a smartphone app that also uses computer vision to measure the state of the car.

On Motorway, consumers can sell their car via a smartphone app that uses computer vision to assess its state. The vehicles are then bid on by professional car dealers in a daily online auction, with the vehicle collected for free by the winning dealer within 24 hours. Given it’s also a “contactless” process, dealers and car owners are increasingly seeking to buy and sell cars online.

Motorway Series Ventures Butcher TechCrunch

In June, Motorway — a U.K. platform on which qualified car dealers offer in an auction for privately owned cars for sale — raised $67.7 million in a Series B round. It’s now elevated a $190 million Series C funding round led by Index Ventures and ICONIQ Growth, a leading Silicon Valley technology growth investment firm. Existing investors Latitude, Unbound and BMW I Ventures also participated in the round. The startup is now claiming a valuation of over $1 billion.

Series Ventures Butcher

Mike Butcher (M.B.E.) is the Editor-at-large of TechCrunch. He has written for UK national newspapers and magazines and has been named one of the most influential people in European technology by Wired UK. He has also advised UK Prime Ministers and the Mayor of London on tech startup policy and has been a judge on The Apprentice UK.

Butcher provides information on how motorway series of ventures develop millions of dollars yearly. The motorway has raised £14 million in venture funding since it was devise by Tom Leathes, Harry Jones and Alex Buttle in 2017. They auction stage for second-hand cars raises $67.7M Series B led by Index Ventures.

UK-based Motorway Series

We will show you the list of motorways in the United Kingdom. Memorandum, the numbering scheme use for Great Britain, does not consist of roads in Northern Ireland. Which are due numbers on an ad hoc basis.

• M-designated motorways
• Upgraded A-road designations
• Former motorways
• Motorways that have been renumbered
• Motorways under construction or planned
• Unbuilt motorways

As per the information gathered from the source; List of motorways in the United Kingdom

One Of The Uk’s Largest Ever Public-Private Partnerships

London’s M25 is one of the world’s most significant orbital motorways. And it carries 15 per-cent of the U.K.’s motorway traffic, or 200,000 cars a day.

In the year 2009, the month of May, National Highways awarded the Skanska-led group Connect. Plus a 30-year public-private partnership contract to add volume to the M25 and achieve critical arterial link roads. It is one of the U.K.’s largest-ever public-private partnerships (PPP).

As part of Connect Plus, Skanska was responsible for the design, construction, financing, operation and also, maintenance. The construction project included four components:

• Widening 60 km of highway to four lanes in four sections
• Refurbishing a 1.25 km, two-lane tunnel
• Widening and converting a further 45 km into the U.K.’s first smart Motorway
• Removal of the toll plazas and also, cash assortment at the Dartford Crossing

The partnership also contains operation and maintenance of the whole 188 km of the M25’s prevailing and new road. As well as a further, 188 km of ‘stubs and tails’ into London and to two of the world’s busiest airports (Heathrow and Gatwick). Moreover, plus the road’s 1,800 structures, including 750 bridges and 150 gantries, five tunnels and one long span bridge – the Queen Elizabeth II Bridge.

Uk-based Motorway Series Ventures Butcher TechCrunch

The Motorway is also announcing the appointment of James Wilson, former director of Marketplace Fulfillment for Amazon U.K., as chief operating officer.

• Tom Leathes, CEO of Motorway, said: “8,000 car sales a month is still less than one percent of U.K. used car sales – so there’s a massive opportunity ahead.”
• Danny Rimer, the partner at Index Ventures, said: “Since joining the board, following our initial investment in June, I have experienced firsthand just how fast Motorway is growing and how agile the team is in scaling the business to support this incredible growth.”
• Yoonkee Sull, the partner at ICONIQ Growth, said: “The used car market’s move online is only accelerating, and we believe Motorway is delivering the best consumer experience and the latest investment. It brings Motorway’s all-time raise to $273 million since it was invent by Leathes, Harry Jones and Alex Buttle in 2017.
• Leathes added: “There’s no connection with BMW particularly, but they are automotive specialists. So they bring quite a lot of knowledge to the broader market and trends happening. They were also part of the B along with Latitude and Unbound.”
• “What Motorway does differently from many competitors is that we are not a retailer. We don’t own inventory. We’re a marketplace. And so that allows us to scale much more quickly,” he said. Differentiated supply to dealers in the U.K.”

Conclusion

Hence, Motorway series ventures Butcher TechCrunch says it has sold 65,000 cars since its launch in 2017 and has realized sales hit £50 million in the last year alone, £2.5 million in daily transactions, and more than 4,000 completed car sales monthly. With only 5 per cent of all vehicles in the U.K. traded online right now, this market has good headroom to develop.