BirdsEyeView, a London, UK-based insurtech space startup, raised an undisclosed seven-figure sum in funding.
The round was led by European Space Agency, Big 5 Investors, InsurTech NY and ACF Investors.
The company intends to use the funds to drive growth in the UK and US markets and further develop its RAPTOR™ technology.
Led by James Rendell, CEO and Founder, and Dr. Albert Dow, CTO, BirdsEyeView is an insurtech space startup that uses satellite data to structure insurance solutions for severe weather and provide SMEs access to weather-based parametric insurance products. Its RAPTOR™ technology is the foundation of its digital underwriting and natural catastrophe modelling software that automates manual underwriting processes, and delivers usable access to Nat Cat analytics and models at the quotation stage – all of which are critical for efficient risk selection.
The investment comes after a period of growth since the product’s launch in 2022, marked by strategic partnerships with global insurers and brokers, including Liberty Specialty, Arch, Convex, Ark, Everest Re, Fidelis and many others.
Commenting on the news, James Rendell said: “This capital injection will be used to fuel growth in the London and US Property and Casualty markets, and to accelerate the development of our Exposure Management and natural catastrophe modelling capabilities. This progress will be critical for improving the speed and quality of underwriters risk selection and exposure management — critical considering the increasing frequency and severity of global climate change-induced natural disasters.”
FinSMEs
12/12/2023