# AMBER

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/amber-3

- Industry: Insurance
- Headquarters: San Francisco, US
- Website: www.getamber.com/
- Total disclosed funding: $3.2M
- Latest round: Seed (Mar 20, 2024)
- Investors on record: 6

## About

Based in California, US, and founded in 2023 by CEO Joe Pak and Tim Hwang, Amber Technologies, Inc., a.k.a. AMBER operates as an insurance company that focuses on providing a digital insurance market space for the EV (electric vehicle) after-sales market in the United States. In March 2024, Amber Technologies, Inc. raised an amount of USD 3.18 million in seed funding co-led by Primer Sazze and Era, with participation from Alcove Fund, Virta Ventures, Global Millennial Capital, and Root and Shoot Ventures.

The company provides digital access to solutions such as extended warranty components, aftermarket EV parts, and a certified network of EV repair technicians, addressing a gap in the market for electric vehicle owners. EV owners are required to take their vehicles, primarily model year 2017 and newer Tesla vehicles, to a Tesla service center or other authorized facility for a diagnostic inspection, and Amber reimburses the cost of repair, car rental, rideshare, or alternative transportation.

 Amber generates revenue by offering three plans ranging from two to five years at a monthly cost of USD 60 to USD 120 with different levels of coverage.

 The company plans to use the March 2024 funding to expand its operations and launch AmberCare in Florida, Connecticut, New Jersey, New Hampshire, Michigan, Minnesota, Pennsylvania, Ohio, Rhode Island, and Tennessee.

## Funding rounds

- Seed, Mar 20, 2024, $3.2M — Global Millennial Capital, Sazze Partners, Root and Shoot Ventures, Era Ventures, Virta Ventures, Alcove Investment Management LLC

## Investors

- Global Millennial Capital (https://capitalatlas.ai/funds/global-millennial-capital) — Seed
- Sazze Partners (https://capitalatlas.ai/funds/sazze-partners) — Seed
- Root and Shoot Ventures (https://capitalatlas.ai/funds/root-and-shoot-ventures) — Seed
- Era Ventures (https://capitalatlas.ai/funds/era-ventures) — Seed
- Virta Ventures (https://capitalatlas.ai/funds/virta-ventures) — Seed
- Alcove Investment Management LLC — Seed