InsurTech startup BirdsEyeView, which leverages satellite data for parametric solutions, has reportedly closed its seed round.
The capital was supplied by SFC Capital and the European Space Agency, according to a report from Business Cloud.
With the funds, the InsurTech company hopes to hire more staff, enhance its technology and more.
BirdsEyeView website claims it is still in stealth, with an announcement and updated website coming soon.
According to Business Cloud report, BirdsEyeView leverages satellite data to create insurance solutions around severe weather.
The company partners with brokers and agents and helps them generate, tailor and bind quotes with ease. Its policies include property and liability, event cancellation and parametric weather.
Sensible Weather is another InsurTech company focused on the risk of severe weather. The company, which recently closed its Series A on $12m, offers weather guarantee protection when booking travel reservations and ticketed attractions. If a weather event, such as rain, impacts the event, the policyholder will be compensated.
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