London-based insurtech Sprout.ai, a claims automation and fraud detection company, has raised £8M (approx €9.27M) in its Series A round of funding. The round was led by early-stage investor Octopus Ventures. In addition, the round also saw participation from existing investors Amadeus Capital Partners, Playfair Capital, and Techstars.
Future of insurance
Founded in 2018 by Niels Thone and Raphael Guth, Sprout.ai was founded on the belief that Artificial Intelligence (AI) has the potential to unlock the future of insurance, solving fraud detection, and claims automation, while empowering insurers to deliver amazing customer experiences.