Capital markets

There were an equal amount of rounds of more than $20 million and seed or pre-seed rounds.

Addition Capital, Coatue Management and serial entrepreneur Elad Gil led the funding round in the Mountain View, California-based company, now worth $3.6 billion -- nearly triple the valuation from another round last year.

The funding round was led by AIA Insurance Inc. as Tiki looks to expand into life insurance and plans a U.S. initial public offering.

There were nine rounds of more than $20 million this month.

The Palo Alto, California-based company is now valued at $900 million, according to people with knowledge of the matter.

Australian insurance startup Cover Genius Pty Ltd. boosted its valuation to A$1 billion ($729 million), after raising A$100 million from investors including G Squared and Japanese insurer Sompo Holdings Inc.

Thiel invested more than $20 million in HySpecIQ LLC, the startup said. The cash will enable the Herndon, Virginia-based company to build and launch two satellites with cameras featuring advanced sensors to peer through solid objects in early 2023.

Truepic Inc., which helps companies like banks and insurers fight fraud by verifying images, raised $26 million in a funding round led by Microsoft Corp.’s M12 venture capital arm.

There were about 12 funding rounds in the insurtech sector in August 2021, according to a review by Digital Insurance and with data from Crunchbase.

Its the biggest investment the vehicle has made to date in South African startups.