Koop Technologies: Raises $2.5M in Seed Funding

Koop Technologies Raises $2.5M in Seed Funding

• Koop Technologies, a Pittsburgh, PA-based insurance technology startup specializing in autonomous vehicle and robotics risks, raised $2.5M in seed funding
• The round was led by Ubiquity Ventures, out of Palo Alto, CA, along with Bee Partners, Sure Ventures, WestWave Capital, and a number of strategic angel investors
• In conjunction with the funding, Sunil Nagaraj, Founding Partner at Ubiquity Ventures, will be joining Koop’s board
• The company intends to use the funds to bring its data-driven insurance platform to more customers in the autonomous vehicle and robotics industries
• The company is an insurance platform designed for autonomous vehicles, robotics, and machine-centric risks
• The company securely collects data from autonomous vehicle and robotics companies and uses it for insurance underwriting, cost of risk, and claims handling purposes in a scalable manner