Category: Funding

Planck Raises $71M to Date to Expand its First-to-Market Cognitive Business Analytics Platform.

Patra, an insuretech startup, has raised $146 million from fintech-focused growth equity firm FTV Capital.

South Korean digital insurance carrier Carrot General Insurance (“Carrot” or the “Company”) today announced it has secured a fresh funding of 300 billion Korean won.

Lloyd’s of London (SOLYD.UL) has set aside 1.1 billion pounds ($1.26 billion) to pay claims related to the war in Ukraine, the commercial insurance market said on Thursday, as it recorded a first-half pre-tax loss of 1.8 billion pounds.

Business-to-business (B2B) SaaS insurance startup MetaMorphoSys has raised $3 million in funding led by Info Edge-backed technology fund Capital2B. Angel investors such as Pavitar Singh and Dhruv Dhanraj Bahl participated in the funding.

Digital private health insurer Ottonova has closed its Series F financing with an equity raise of €34 million. The current round is led by private equity investor Cadence Growth Capital (CGC). In addition, existing investors and a Munich-based family office are participating.

Home-security firm ADT Inc (ADT.N) has secured an investment of $1.2 billion from State Farm as part of a partnership that it hopes will encourage the insurer’s many customers to buy its smoke detection and anti-intrusion products.

The company, co-founded and headed by Israeli Jonathan Matus, has developed AI-powered risk and pricing models that have been trained with nearly 200 billion miles of driving data and tested over five years of operations.

The company will use the funds to expand technical staff, sales and marketing, and R&D for its AI underwriting framework and private Blockchain network.

Ledgebrook, an insurtech MGA startup focusing on middle market E&S, has closed a $4.2M seed round led by Brand Foundry Ventures alongside American Family Ventures.