Israeli insurtech firm Sayata raises Series A, Browzwear grabs $35 mn

 Israeli insurtech firm Sayata raises Series A, Browzwear grabs $35 mn

Israel- and US-based insurance technology marketplace Sayata has raised $17 million in a Series A funding round from a bunch of investors led by Team8 Capital and Vertex Ventures.

Existing backers Elron, Kamet, and OurCrowd also invested.

The company said the new financing will help it expand into several new insurance lines.

Sayata was founded in February 2020. Since then, it claims to have been “doubling gross written premium every quarter to date, with millions of dollars in monthly premiums already”.

“This round is coming just as we’re hitting our stride,” said Asaf Lifshitz, CEO of Sayata. “The market has responded incredibly well to our offering since launch with both our broker and carrier partners asking to see more business insurance lines represented on the platform.”

Team8 Capital is the investment arm of Team8 Group, and is focused on companies seeking seed and Series A and B funding.

Vertex Ventures Israel is an early-stage venture capital fund with over $1.2 billion under management. It has invested in several startups including Waze, CyberArk, SolarEdge, Ownbackup, Innoviz, Axonius, Verbit and Trigo.

Vertex Israel is part of a global Vertex Ventures network of funds, operating in Silicon Valley, Israel, Southeast Asia, China and India with over $3 billion of committed capital.

Browzwear

Browzwear, a 3D digital solutions company based out of Israel and Singapore, has closed a $35 million funding round from venture capital firm Radian Capital.

The money will help the company to develop its platform and expand its market further. The company is also looking to triple its workforce and add more people in research and development and product development, apart from its tech backbone. It wants to grow by 150% in the next two years.

Browzwear was founded in 2012. It specialises in 3D simulation for fashion designers, developers, and marketers.

The company has 650 clients including notable names like Walmart, Lululemon, and Nike.

Radian Capital invests across mature B2B tech companies, and has backed firms like Mural and Encompass Technologies.

Aman Malik

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