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June 4, 2025 - Deals
Bolttech Secures $147 Million In Series C Funding Round From Investors Including Dragon Fund And Baillie Gifford
Bolttech, a Singapore-based embedded insurance provider founded in 2020 by Rob Schimek, has raised $147 million in a Series C round at a $2.1 billion valuation to expand its offerings. The funding, led by investors like Dragon Fund, Baillie Gifford, and Generali, will help Bolttech enhance its R&D in data analytics and AI while expanding into Africa and North America. Bolttech connects 700 distribution partners with 230 insurers, facilitating over 6,500 insurance products worldwide and $60 billion in annualized quoted premiums. The company also plans a joint venture with Sumitomo Corporation to strengthen its presence in Asia.
INVESTORS: Dragon Fund, Baillie Gifford, Generali, Sumitomo Corporation, Iberis Capital, Tokio Marine & MetLife
ROUND: Series C
AMOUNT: $147,000,000
VALUATION: $2,100,000,000
HQ: #SuntecTowerFour #Singapore
#VentureCapital #Bolttech #DragonFund #BaillieGifford #Generali #SumitomoCorporation #IberisCapital #TokioMarine #MetLife #TradedVC
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Businesses Increase AI Spending As Anthropic Leads Adoption At 43.5%Ramp’s latest AI Index shows businesses are continuing to increase AI spending despite rising pressure from cheaper and open-source models. In July, the top 1% of businesses spent a median $7,400 per employee on AI, compared with $650 for the top 10% and $11.95 for the median firm, while Anthropic led business adoption at 43.5%, ahead of OpenAI at 39.7%.
#VentureCapital #Ramp #TradedVC