MotionsCloud, a German insurtech startup, raised US$ 2m in funding.
The round was co-lead by SOSV and Net Insurance, followed by AI Startup Incubator, ParticleX, Artesian, Excon Services, and Global Insurance Accelerator.
The company plans to use the funds for further expansion.
MotionsCloud CEO LeX Tan is the founder. The company uses AR and AI technology to quickly assess and process auto and home insurance claims. The company empowers insurance companies with an automated property & vehicle inspection, making the process faster and more efficient. The startup has already partnered with US, European and Asian companies.