In the current scenario, the auto insurance market and usage-based business models are increasing around the world. The demand is increasing as Artificial Intelligence (AI) is looking to take centre stage within the industry. In a recent development, a Stockholm-based insurtech provider of AI-based risk intelligence, Greater Than, has raised SEK 136M (approx €13.4M) to scale its AI technology.
Investor in this round
The company has completed a directed share issue of approximately approx €13.4M and has gained a new, active and long-term shareholder. In a press release, it mentions that the share issue has been subscribed in its entirety by Cuarto, a subsidiary in the Nidoco group owned by Alexander and Albert Ehrnrooth.