Koop Technologies Raises $2.5M in Seed Funding

Koop Technologies, a Pittsburgh, PA-based insurance technology startup specializing in autonomous vehicle and robotics risks, raised $2.5M in seed funding.

The round was led by Ubiquity Ventures, out of Palo Alto, CA, along with Bee Partners, Sure Ventures, WestWave Capital, and a number of strategic angel investors. In conjunction with the funding, Sunil Nagaraj, Founding Partner at Ubiquity Ventures, will be joining Koop’s board.

The company intends to use the funds to bring its data-driven insurance platform to more customers in the autonomous vehicle and robotics industries.

Led by Sergey Litvinenko, Co-Founder & CEO, and Kamron Khodjaev, Co-Founder & CCO, Koop is an insurance platform designed for autonomous vehicles, robotics, and machine-centric risks. The company securely collects data from autonomous vehicle and robotics companies and uses it for insurance underwriting, cost of risk, and claims handling purposes in a scalable manner. To date, Koop has partnered with some of the largest insurance companies, with clients in more than 10 different industries.

FinSMEs

23/08/2021