Bdeo, a Madrid, Spain-based technology company specializing in Visual Intelligence for the insurance and fleet industries, has raised an additional €7.5 million in funding to accelerate Bdeo's international expansion and strengthen its presence across Europe and Latin America.
The funding round included new investors Armilar, Hollard, The Centre for the Development of Industrial Technology (CDTI), and Íope Ventures, a new investment vehicle launched by Wayra and Telefónica Seguros.
Existing investors K Fund and Blackfin also participated in the investment. As part of the new investment, Bdeo received grants from the Comunidad de Madrid and red.es.
The additional funding will enable Bdeo to further expand its international operations, consolidate its position in Europe and Latin America, and continue serving its growing customer base in the insurance and fleet industries.
Bdeo's advanced Visual Intelligence technology provides insurers with valuable insights and streamlines processes, contributing to enhanced efficiency and improved customer experiences. With its Visual Intelligence technology, Bdeo serves over 50 insurers across more than 25 countries.
“Based on the impressive results we have achieved and our capital efficiency given the challenging times we’re living in, it is reassuring to receive this trust from investors,” said Julio Pernía, CEO of Bdeo. “It is a significant boost of confidence for our team, and we are proud to continue working closely with the insurance sector and adapting to its needs and priorities, as we always have.”
In addition to accelerating its international expansion, Bdeo plans to continue developing its Visual Intelligence solutions to cover new use cases.
Company: BDEO TECHNOLOGIES S.L
Raised: €7.5M
Round: Unknown
Funding Month: June 2023
Lead Investors:
Additional Investors: Armilar, Hollard, The Centre for the Development of Industrial Technology (CDTI), Íope Ventures, K Fund, and Blackfin
Company Website: https://bdeo.io/
Software Category: AI-powered Visual Intelligence Solution
About the Company: Founded in 2017 by Julio Pernía and Manuel Moreno, Bdeo is a comprehensive visual intelligence service intended to change the way customers connect with insurance companies. Bdeo’s AI-powered Visual Intelligence solution remotely assesses damage to vehicles and homes to accelerate insurance claims and underwriting processes. The company has established a strong presence in Latin America and Europe, particularly in countries such as Spain, Portugal, Italy, France, Nordic countries, the United Kingdom, Mexico, Colombia, and Argentina. Bdeo works with global insurance leaders, including Reale, Mapfre, and Generali in Spain, Ageas in Portugal, Fidelidade in Portugal, as well as Zurich, Allianz, BBVA in the Latin American market, and Hollard in South Africa.
Source: https://www.eu-startups.com/2023/06/madrid-based-bdeo-raises-additional-e7-5-million-to-keep-expanding-its-ai-insurtech-visual-intelligence/