Start-up funding

The area promises huge opportunities to gain experience and has the right infrastructure to power long-term growth.

Connective Capital, which debuted this month, has raised $35 million to back technology startups trying to detect, prevent or manage the spread of wildfires.

There were six rounds of more than $20 million in funding, and 11 seed rounds. 

The Columbus, Ohio-based VC is bullish on the midwest being the next startup hub.

There were 27 rounds in the month.

Krishnamurthy says insurers are acknowledging the staying power of insurtech and its valuable ability to disrupt the insurance industry.

Pilot Co., which is owned by Berkshire Hathaway, agreed to take a stake in Kodiak Robotics Inc., a driverless truck startup.

Erie Strategic Ventures will primarily focus on early-stage North American-based companies.

Each startup receives $100,000 investment and works with gener8tor, Allianz Life and Securian Financial during the three-month program.

There were 33 rounds in the month.

More news: MassMutual on iPipeline’s iGO and Neptune Flood partners with SIAA.

Morgan Health is investing $30 million in Centivo, a three-year-old Buffalo, New York-based health-plan administrator that says it’s holding members’ average annual out-of-pocket expenses to less than $350.

Drake Star Partners' Global Insurtech Industry Report 2022: Adoption of new technologies likely increased insurtech M&A.

Global funding to startups fell 23% in the the second quarter from the first, to $108.5 billion, according to a recent report from CB Insights.

The funds will be put toward expanding into new markets -- including the Netherlands, France, Spain and the UK -- and building out the platform, Wefox said.

Several insurtechs considered or used special purpose acquisition companies, a method of going public, in 2020 and 2021, but the results have been lacking.

There were about 18 funding rounds, including Branch with $147M, Series C.

The IMA Labs arm of IMA Financial Group is selective in its choices of insurtechs to back, with rigorous evaluations

The latest fundraising comes amid a challenging backdrop for the technology industry, with startups globally struggling to attract capital as investors shy away from riskier bets. 

There were about 20 funding rounds in the insurtech sector.