Luxembourg car insurance telematics spinout Motion-S has secured the backing of automobile and cycle trade body Febiac as it prepares to expand into other mobility segments.

Motion-S, a Luxembourg-based car insurance telematics spinout of University of Luxembourg, has closed a €1m ($1.2m) round with funding from automobile and bicycle industry association Febiac, has reported. Belgium-based Febiac invested the sum through its Luxembourg subsidiary and will engage with Motion-S through a strategic partnership agreement. Founded in 2014, Motion-S develops telematics systems…

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