Koop Technologies is an insurance technology company that has developed a platform using alternative data to perform risk evaluation across a wide range of robotics use cases, including autonomous vehicles. Led by CEO Sergey Litvinenko, the company is licensed in more than 30 U.S. states through its insurance subsidiary and has partnered with several leading insurance carriers. Koop says it will use the new funds to increase adoption of robotics-based products and services via its proprietary risk-evaluation tools and by delivering new insurance coverages. The company has previously raised venture funding and lists strategic backers among its investors. To date, Koop has raised $7M in venture funding from investors including AlleyCorp, Ubiquity Ventures, Bee Partners, Hyundai Motor Company and Kia Corporation, among others. The recent investment from Hyundai and Kia was disclosed but the amount was not disclosed in the article. Koop Technologies is an insurance technology company focused on the robotics ecosystem, based in Pittsburgh, PA and led by CEO Sergey Litvinenko. The company has developed a platform that uses alternative data to perform risk evaluation for a range of robotics use cases, including autonomous vehicles. Koop operates an insurance subsidiary and is licensed in more than 30 U.S. states. It has partnered with leading insurance carriers to distribute or underwrite its products. Koop plans to use new funding to expand its distribution channels and continue product development. Koop Technologies operates a data-driven insurance platform for autonomous vehicles, robotics, and other machine-centric risks. The platform securely collects data from autonomous vehicle and robotics companies and uses it for underwriting, cost-of-risk analysis, and claims handling in a scalable manner. Koop has partnered with some of the largest insurance companies and serves clients across more than ten industries. The company is led by Co-Founder & CEO Sergey Litvinenko and Co-Founder & CCO Kamron Khodjaev. Koop intends to use the seed funding to bring its platform to more customers in the autonomous vehicle and robotics industries. The company is based in Pittsburgh, PA.

Total raised

$3M

Funding rounds

3

Latest round

Seed

Latest activity

Aug 2021