Gland, Switzerland – March 10, 2022 – Allegory Capital has successfully led a CHF 280K seed round to establish Pitlane Automotive Engineering. This strategic investment aims to enhance Pitlanework’s high-end car modification capabilities and ensure road-legal approval in Europe and Switzerland.
Key Highlights:
- Allegory Capital leads CHF 280K seed funding for Pitlane Automotive Engineering.
- Pitlane Automotive Engineering specialises in high-end car modifications with road-legal approval.
- Kainjoo Racing’s sponsorship aligns with its commitment to performance and innovation, enhancing Pitlaneworks’ racing activities and integrating Kainjoo’s strategic vision.
Pitlane Automotive Engineering: Driving Innovation in High-End Automotive Customization
Revolutionizing Vehicle Customization
Allegory Capital’s CHF 280K seed funding for Pitlane Automotive Engineering marks a significant milestone for Pitlaneworks, a company renowned for its extreme automotive customization and high-performance builds since its inception in 2016. Pitlaneworks, the official Swiss dealer for Liberty Walk, has delivered remarkable projects such as the Ferrari 458 Liberty Walk Dry Carbon, showcased at the Goodwood Festival of Speed in 2022, and the road-legal GTR Wide Body R35. These projects underscore the company’s commitment to innovation and excellence, positioning Pitlaneworks alongside high-end automotive giants like Techart and Mansory. Paulo Cristovao, the founder and a former world champion in several drift series across Europe and Japan, emphasized, “This investment allows us to push the boundaries of what’s possible in automotive engineering, ensuring compliance and superior performance.”
Meeting Regulatory Standards
The high-end vehicle modification market is experiencing rapid growth, driven by increasing demand for unique, customized cars. Brands like Liberty Walk have taken the web by storm, exemplifying the market’s potential. As more brands enter this niche, the need for regulatory compliance becomes paramount. Regulatory compliance involves ensuring that modified vehicles meet the safety and environmental standards set by authorities in Europe and Switzerland. Pitlane Automotive Engineering addresses this by developing regulatory-friendly documents at scale and connecting with providers and resellers, ensuring that any dealer can order homologation papers (official documents certifying that a vehicle meets regulatory standards) for high-end customizations. Looking to the future, Pitlane aims to adapt to emerging trends, such as changing traditional engines to electric drivetrains. Imagine a classic 1969 Mustang with an electric engine; Pitlane would be uniquely positioned to authorize these transformations by redoing all necessary tests to meet regulatory standards, much like an original manufacturer.
Scaling Operations and Technological Investment
Additionally, the funding from Allegory Capital will enable Pitlane Automotive Engineering to scale its operations, invest in new technologies, and expand its team. This investment will support the development of new services, such as electric drivetrain conversions, positioning Pitlane Automotive Engineering as a leader in the evolving automotive market. The company’s focus on regulatory compliance ensures that these modifications meet the highest safety and performance standards, making them road-legal in Europe and Switzerland. This approach enhances the value proposition for customers and sets Pitlane apart from competitors who may not have the same expertise in navigating complex regulatory landscapes.
Kainjoo Racing: Pioneering Performance and Innovation
Strategic Marketing and Sponsorship
Kainjoo Racing, synonymous with high performance and technological innovation, has strategically aligned itself with Pitlane Automotive Engineering to elevate Pitlaneworks’ racing activities. This sponsorship reflects Kainjoo’s values of precision, excellence, and relentless pursuit of improvement. Paulo Cristovao will lead Kainjoo’s Racing department, spearheading sponsorship opportunities in the drift series and ensuring the integration of Kainjoo’s strategic vision and passion for performance. This partnership is further exemplified by Kainjoo’s sponsorship of Julian Wagg in the Ultimate Cup series.
Expanding Motorsports Presence
Kainjoo’s dual engagement in traditional and emerging motorsports, such as the LMP3 series (a class of racing cars designed for endurance racing) and drift series, ensures a robust presence in the competitive racing landscape. “We are excited to partner with Pitlane Automotive Engineering and leverage our shared commitment to excellence and innovation,” stated Paulo Cristovao. “This collaboration will drive our racing initiatives to new heights and set new industry benchmarks.” Additionally, Kainjoo Racing will be in charge of the marketing promotion for Pitlane Automotive Engineering, ensuring a joint effort to boost the company’s visibility and market reach. This includes leveraging Kainjoo’s extensive network in the motorsports industry to create synergies that enhance both brands’ reputations. Kainjoo’s involvement in traditional and emerging motorsports, including investments in gaming and racing series teams, further underscores its commitment to excellence. By aligning with Pitlane Automotive Engineering, Kainjoo Racing strengthens its position in the racing world and contributes to the broader vision of promoting cutting-edge automotive technologies and innovations.
Allegory Capital’s Investment Thesis: Expertise in Regulated Industries
Strategic Fit with Compliance Focus
“This investment is aligned with our thesis focused on highly regulated environments, making Pitlane a good target for our limited partners,” shared Haider Alleg, GP at Allegory Capital. Pitlane Automotive Engineering’s commitment to developing regulatory-friendly documents at scale and connecting with providers and resellers makes it an exciting venture. The company ensures dealers can order homologation papers for high-end customizations, disrupting the high-end automotive market.
Driving Growth and Innovation
Pitlane Automotive Engineering is positioned as a leader in homologating high-end, road-legal vehicles by focusing on compliance and regulatory expertise. This funding enables Pitlane Automotive Engineering to expand its offerings, improve its facilities, and deliver extraordinary automotive experiences. Allegory Capital’s investment underscores its commitment to automotive engineering and racing innovation. This alignment with Kainjoo’s strategic vision for performance excellence ensures a comprehensive approach to advancing traditional motorsports.
Market Potential and Competitive Advantage
The global car tuning and customization market, expected to reach $10.8 billion by 2027 with a CAGR of 4.5%1, showcases the dynamic potential of this sector. Competitors like Mansory and Techart have already established their dominance. Still, Pitlane’s unique approach to regulatory compliance and homologation sets it apart, promising a streamlined and automated solution for high-end customizations. By leveraging automation to provide regulatory documentation efficiently, Pitlane Automotive Engineering aims to revolutionize the market, offering dealers and resellers unprecedented convenience and compliance assurance. This strategic positioning makes Pitlane an exciting venture within the auto-tech landscape, comparable to leading industry players but distinguished by its regulatory expertise and innovative approach.
About Pitlane Automotive Engineering SA
Pitlane Automotive Engineering SA specializes in high-end car modifications, focusing on ensuring road-legal approval in Europe and Switzerland. The company leverages its expertise in regulatory compliance to deliver exceptional automotive experiences.
About Kainjoo
Kainjoo is a brand-tech firm providing technology-driven solutions for regulated industries. Committed to driving innovation and excellence across various sectors, including automotive racing, Kainjoo’s strategic partnerships and investments reflect its dedication to pushing the boundaries of performance and technology.
About Allegory Capital
Allegory Capital is a growth-focused investment firm specializing in tech ventures disrupting regulated industries. We aim to detect, form, and accelerate ideas that will grow within complex or regulated environments while ensuring a sustainable impact.
Contact Information
Orsen Okami CBO at Kainjoo | +41 21 561 3496
References
- “Global Car Tuning and Customization Market – Forecast to 2027,” Market Research Report.
