India-based InsurTech startup Artivatic.ai has raised what it refers to as a bridge funding round led by Scale Ventures and existing investor IAN.
While neglecting to divulge how much money was raised, the venture will use the money to fund its research and further development of its platform, according to IndianWeb2.
Founded in 2017, founders Puneet Tandon and Layak Singh have developed a platform leveraging machine learning and artificial intelligence to reimagine insurance industry by providing the right policies for the right client.
“Insurtech is just opening up in India,” said Padmaja Ruparel, co-founder of IAN, when speaking with IndianWeb2. “It’s a space waiting to be disrupted. Artivatic.Ai does just that leveraging AI, to build a well differentiated play in the large FinTech space. Layak’s sharp focus on the solution catering to an unmet need makes Artivatic.Ai a category leader.”
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