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Andreessen Horowitz backs British insurance startup in $73 mln funding round

Reuters · 1y ago

Andreessen Horowitz backs British insurance startup in $73 mln funding round

London-based insurance startup Hyperexponential has secured $73 million in a funding round with support from Andreessen Horowitz. Founded in 2017, the company offers mathematical modeling software that enables insurance firms to price policies based on various data points. The investment comes at a time when Europe's technology sector has experienced a decline in funding, dropping from $85 billion to $45 billion in 2023. Hyperexponential plans to use the funds to expand its team and establish a New York office.

Related News

AI startup Scribenote raises $8.2 million in Andreessen Horowitz-led funding round

Economic Times

Economic Times · 1y ago

AI startup Scribenote raises $8.2 million in Andreessen Horowitz-led funding round

Scribenote, an AI-driven startup that generates medical records for veterinarians, has raised $8.2 million in an early-stage funding round led by Andreessen Horowitz. Other participants included Inovia Capital and Velocity Fund. Although the valuation of the funds raised was not disclosed, the investment highlights the growing investor interest in AI startups. Scribenote, founded in 2019, has automated over 1.5 million medical records in less than a year. This funding round comes after Andreessen Horowitz's involvement in the $6 billion series B funding of xAI, the AI startup founded by Elon Musk.

Musk's xAI plans to raise $10 bn at $75 bn valuation: Report

Inshorts · 9m ago

Musk's xAI plans to raise $10 bn at $75 bn valuation: Report

Elon Musk-led xAI is in talks to raise $10 billion in a funding round that could value the AI startup at around $75 billion, Bloomberg reported. Existing investors, including Sequoia Capital, Andreessen Horowitz and Valor Equity Partners are reportedly considering investing in the round. In December, the startup raised $6 billion at reportedly over $40 billion valuation.

Visa processing firm Atlys eyes $15-18M raise from Peak XV, others

Inshorts · 1y ago

Visa processing firm Atlys eyes $15-18M raise from Peak XV, others

Travel tech startup Atlys, which counts Andreessen Horowitz, Elevation Capital, and South Park Commons among its investors, is reportedly in talks with existing investor Peak XV Partners and others to raise $15-18 Mn in its Series B round. The startup is eyeing a valuation of nearly $70 Mn, Entrackr reported. The funding round will be led by Peak XV.

Series F | The SaaS News

The Saas News

The Saas News · 18h ago

Series F | The SaaS News

Harvey, a legal AI startup from San Francisco, raised $160 million in Series F funding, achieving an $8 billion valuation. The investment round was led by Andreessen Horowitz and included new investors like WndrCo and accounts advised by T. Rowe Price Associates, Inc. Returning investors included Sequoia, Kleiner Perkins, and Conviction.

Legal AI startup Harvey confirms $8B valuation

TechCrunch · 2d ago

Legal AI startup Harvey confirms $8B valuation

Harvey on Thursday confirmed it closed a round of funding, led by Andreessen Horowitz, that values the legal AI startup at $8 billion after reports of the funding leaked in October. The startup raised $160 million in the round.This latest capital infusion came just months after it raised $300 million in a Series E round at a $5 billion valuation in June. And that was just months after raising a Sequoia-led $300 million Series D at a $3 billion valuation in February.

Abridge, whose AI app takes notes for doctors, valued at $5.3 billion at funding

Livemint

Livemint · 5m ago

Abridge, whose AI app takes notes for doctors, valued at $5.3 billion at funding

Abridge, a startup that automates doctors' note-taking using AI, raised $300 million in a funding round led by Andreessen Horowitz, valuing the company at $5.3 billion. This funding will be used to further develop its ambient-listening products. Previously, Abridge was valued at $2.75 billion in February after raising $250 million. The investment highlights the growing interest and potential in AI-driven healthcare solutions.

OpenAI’s former CTO Mira Murati’s startup Thinking Machines raises $2 billion led by a16z - The Economic Times

Economic Times

Economic Times · 4m ago

OpenAI’s former CTO Mira Murati’s startup Thinking Machines raises $2 billion led by a16z - The Economic Times

Thinking Machines Lab, an AI startup founded by former OpenAI executive Mira Murati, has raised approximately $2 billion in a funding round led by Andreessen Horowitz, with participation from Nvidia, Accel, and others. Despite being launched only in February with no products yet, the substantial funding reflects Murati's appeal as an industry leader. The startup aims to develop safer and more reliable AI systems, with its team primarily composed of former OpenAI employees.

Andreessen Horowitz Leads $300 Million Round Backing Abridge AI Valued at $5.3 Billion for Doctor-Patient Transcription | DeepNewz VC

Business Bytes

Business Bytes · 6m ago

Andreessen Horowitz Leads $300 Million Round Backing Abridge AI Valued at $5.3 Billion for Doctor-Patient Transcription | DeepNewz VC

Andreessen Horowitz led a $300 million funding round for Abridge AI, valuing it at $5.3 billion. Meanwhile, U.S. venture capitalists are actively engaging with China's biotech sector, indicating a burgeoning interest in tapping into Chinese innovation within this industry.

PayPal backs Indonesian insurance startup Qoala in $47M funding

TechCrunch · 1y ago

PayPal backs Indonesian insurance startup Qoala in $47M funding

PayPal Ventures has invested in Indonesian insurtech startup Qoala, which offers personal insurance products to over 5 million customers. Qoala has raised $47m in a Series C funding round led by PayPal Ventures and MassMutual Ventures, bringing its total funding to over $130m. The company works with local insurers and e-commerce firms to provide affordable and personalised insurance coverage through its website, app, and offline channels. Qoala plans to use the funding to explore acquisitions, partnerships, and AI integration. This investment demonstrates PayPal Ventures' confidence in Qoala's strategy to democratise insurance in Southeast Asia.

Customer service AI startup Decagon raises $131 million

Economic Times

Economic Times · 5m ago

Customer service AI startup Decagon raises $131 million

Decagon, an AI-powered customer service startup, raised $131 million in a funding round, valuing the company at $1.5 billion. Led by Accel and Andreessen Horowitz, and including other investors, the funding aims to expand Decagon's team and enterprise sales. Decagon provides text-based and voice AI support solutions, helping clients like Hertz and Duolingo. Notably, Chime reported a 60% reduction in contact center costs and improvement in customer satisfaction using Decagon's solutions.

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