Octopus Ventures
Octopus Ventures is a London-based venture capital firm that backs technology-enabled startups across Europe, with a bias toward the UK. It invests across stages, from idea/concept through seed, Series A/B to growth, typically taking lead rounds and board seats. The firm targets sectors including health, fintech, deep tech, consumer, and B2B software, as well as climate and digital health, and provides hands-on support to help portfolio companies scale, not only capital. Annual activity amounts to several hundred million pounds, with equity investments ranging from relatively small rounds to tens of millions. It seeks to partner with founders for multi-year growth, and has backed notable companies such as ManyPets, Cazoo, Depop, Elvie, and WaveOptics. Operations span London and New York, aided by a network of partners in the US and Asia.
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Past deals in Motor Insurance
Sprout.ai
Venture Round in 2023
Sprout.ai specializes in designing and developing artificial intelligence-based software solutions for claims management and fraud detection in personal and commercial insurance lines. Its flagship product, Contextual AI, uses Optical Character Recognition (OCR) and Natural Language Processing (NLP) to streamline claims processes, reduce settlement times, enhance fraud detection, and ensure industrial-grade security.
Flock
Series B in 2023
Flock is a digital insurance company specializing in commercial motor fleets. It offers connected insurance that rewards safer driving with lower premiums, aiming to make roads quantifiably safer. Hundreds of companies trust Flock for protecting their vehicles and drivers, including Virtuo and Jaguar Land Rover's luxury leasing firm.
Anansi
Seed Round in 2021
Anansi offers an embedded goods-in-transit insurance platform for distribution partners and e-commerce merchants. Its automated API enables seamless integration with third-party logistics providers, marketplaces, and online retailers to offer insurance directly within their front-end environments. Anansi's platform provides one-click signup, zero admin, and parametrically triggered claims and payouts for lost or delayed parcels.
Sprout.ai
Series A in 2021
Sprout.ai specializes in designing and developing artificial intelligence-based software solutions for claims management and fraud detection in personal and commercial insurance lines. Its flagship product, Contextual AI, uses Optical Character Recognition (OCR) and Natural Language Processing (NLP) to streamline claims processes, reduce settlement times, enhance fraud detection, and ensure industrial-grade security.
By Miles
Series B in 2020
By Miles offers flexible car insurance tailored for low-mileage drivers. It provides a fixed annual fee along with variable per-mile charges, allowing customers to pay only for the distance they drive. The company uses a smartphone application that tracks journeys and offers real-time cost tracking, app-based policy management, and automated driving insights.
By Miles
Series A in 2019
By Miles offers flexible car insurance tailored for low-mileage drivers. It provides a fixed annual fee along with variable per-mile charges, allowing customers to pay only for the distance they drive. The company uses a smartphone application that tracks journeys and offers real-time cost tracking, app-based policy management, and automated driving insights.
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