Honeycomb Raises $36 Million Funding to Expand Insurance and Launch AI Solutions

Honeycomb's Series B Funding

Key Highlights:

• Series B Funding: Honeycomb, a digital insurer specializing in P&C insurance for landlords and condo associations, raised $36 million in Series B funding.
• Investors: Funding round led by Zeev Ventures, with participation from Arkin Holdings and Launchbay Capital, as well as existing investors Ibex Investors, Phoenix Insurance, and IT-Farm.
• Expansion and Innovation: Funds will be used to expand into new insurance markets and accelerate the development of AI-powered insurance solutions.

Honeycomb's Target Market

• Target Market: Landlords and condo associations in the U.S. seeking P&C insurance coverage.
• Real Estate Industry: Focus on insuring real estate assets, with a current coverage of over $21 billion worth of assets.
• Geographic Expansion: Operating in sixteen states across the U.S., with plans to expand further.

What Honeycomb Needs to Buy

• AI and Data Analytics Solutions: Partnerships with technology companies specializing in AI, computer vision, and data analytics to enhance underwriting accuracy and real-time risk assessment.
• Market Expansion Support: Collaborations with insurance agencies and brokers to expand into new insurance markets and reach a wider customer base.
• Technology Infrastructure: Investments in technology infrastructure to support the development and deployment of AI-powered insurance solutions.

Sorted raises £1.65M in Seed Funding for Recycling Tech

Summary: Sorted, a recycling tech startup based in the UK, recently secured £1.65M in seed funding to revolutionize waste management and recycling. Their AI-powered sorting solutions aim to improve the efficiency of recycling processes and contribute to a more sustainable future.

Funding Amount: £1.65 million

Industry: Software Development

Employee Count: 51-200

CEO: Carmen Carey (CEO Linkedin)

What Sorted needs to buy: Sorted is seeking partnerships with waste management companies, recycling industry leaders, and environmental organizations. Companies specializing in AI technology, sustainability solutions, and waste management systems are ideal partners to support Sorted's expansion plans and drive innovation in the recycling industry.