Company Name: Koop Technologies
Location: Pittsburgh, PA
Sector: Insurance Technology for Robotics
Funding Details: Received an investment from Hyundai and Kia. Previously raised $7M in venture funding from AlleyCorp, Ubiquity Ventures, Bee Partners, and others.
Purpose of Investment: To boost the adoption of robotics-based products and services with innovative risk evaluation and new insurance coverages.
Leadership: CEO Sergey Litvinenko
Product: A risk evaluation platform that leverages alternative data for various robotics applications, including autonomous vehicles. Koop is licensed in over 30 U.S. states and collaborates with leading insurance carriers.
About Company: Koop Technologies stands at the intersection of robotics and insurance technology, offering unique solutions for risk evaluation and insurance coverage tailored to the needs of the robotics ecosystem.
Innovation and Market Position:
- Risk Evaluation Platform: Utilizes alternative data for comprehensive risk assessments.
- Focus on Robotics Ecosystem: Addresses the unique insurance needs of robotics and autonomous vehicles.
- Strategic Partnerships: Collaborates with major insurance carriers and now backed by industry giants Hyundai and Kia.
Strategic Goals: The investment aims to expand Koop's reach and capabilities in facilitating the wider adoption of robotics technologies through specialized insurance solutions.