Intelligent AI, an Exeter, England-based company specializing in artificial intelligence solutions for the insurance sector, secured a £800,000 funding round.
Investors
The round was led by Cornwall & Isles of Scilly Investment Fund, with participation from Angel Investors Bristol.
Founded in 2018, Cornwall & Isles of Scilly Investment Fund is a venture capital fund headquartered in Sheffield, United Kingdom. The firm provides a mixture of debt and equity funding to small and medium-sized enterprises in Cornwall and the Isles of Scilly at all stages of their development.
Intelligent AI Use of Funds
With the latest funding, the company is set to double its team and broaden its national footprint.
About Intelligent AI
Founded in 2020, Intelligent AI has developed a digital solution for insurers and property owners to improve the speed, efficiency, and accuracy of property risk assessments, leading to reduced costs and more appropriate policies. Intelligent AI has offices in Newquay and Exeter and is part of the Tech South West Growth Forge accelerator program. The company has already secured a multi-million pound UK reseller agreement to take its intelligent platform to market.
Funding Details
Company: Intelligent AI Limited
Raised: £800K
Round: Unknown
Funding Month: May 2024
Lead Investors: Cornwall & Isles of Scilly Investment Fund
Additional Investors: Angel Investors Bristol
Company Website: https://www.intelligentai.co.uk/
Software Category: Insurance Solutions
Source: https://businesscloud.co.uk/news/ai-firm-receives-800k-funding-boost/