Insurtech and parametric cargo insurance platform, Otonomi has announced that it has closed a $3.4 million funding round to build a first-to-market blockchain-powered parametric cargo platform.
The funding round was led by ATX Ventures, followed by GSR Ventures, Greenlight Re Innovations, Punja.VC, Altari Ventures, Soundboard Venture Fund, Blackhorn VC, Bering Waters, REFASHIOND Ventures and a number of specialized angels and syndicates.
Otonomi was founded in 2020 by CEO Yann Barbarroux and fellow Co-founder and CTO, Jeremy Sutton. The company is based in Brooklyn and focuses on freight insurance.
The company is first to market in providing parametric cargo delay insurance – a fast, transparent and automated delay insurance product – that unlocks claims resolution in 45 minutes instead of 45 days, compressing administrative costs by up to 90%.
Moreover, Otonomi’s management tapped into six critical industries to assemble a core team of resolute go-getters in finance, insurance,...
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