Tractable pulls in $8m for machine-vision insurance technology

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

Machine vision InsurTech startup Tractable has raised $8m in a Series A round led by Ignition Partners.

Zetta Venture Partners and a host of individual from across the insurance space also participated.

The London-based company uses artificial intelligence to scan damaged vehicles to assess damage and help to generate a claim more quickly and accurately.

Tractable also aims to use the technology for preventive maintenance in infrastructure failure and medical imagery.

The company works insurers and repairs companies across the US and UK and counts Ageas and Mitchell International.

Tractable co-founder Alex Dalyac said the funding will be used to help the company scale and develop new insurance solutions.

The round takes Tractable’s total funding to $9.9m with it previously raising $1.9m in a June 2015 led by Zetta.

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