UK insurtech raises £8m

13 Feb 2024 3:11 PM | Shivani Kaura (Administrator)

London-HQ’d algorithmic underwriting insurtech, Artificial Labs has secured a further £8m in Series A+ funding. The round was led by Augmentum Fintech, with participation from existing investors MS&AD Ventures and FOMCAP IV. This latest investment brings the total raised to date by the company to over £20m. The additional monies will be used to support both product development and continued expansion.

Founded in 2013, Artificial Labs has built a platform which uses cloud-based tools and machine learning techniques to facilitate fully automated, algorithmic underwriting.

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