Anthemis and Menlo Ventures led the financing round alongside five new venture capital firms and angel investors.
"We are delighted to have secured the backing of a fantastic range of investors who fully understand the criticality of the service that Insurdata provides to the re/insurance market. Our work to date has exposed material deficiencies in the quality and scope of information which underwriters are reliant upon, which in turn have a detrimental effect on their ability to accurately price risk and manage portfolios effectively."
The funding round was led by angel investor Ashley Cooper with participation from Angels Invest Wales and Hambro Perks Insurtech Gateway.
"David and his co-founders make an impressive team who have developed a massively scalable, market leading technology that addresses a real need in a huge growth sector. Our investment syndicate is excited to be backing DAS and I am delighted to have led this funding round accessing the Wales Angel Co-investment Fund."
The funding was led by Startup Funding Club and the London Co-Investment Fund to support insurance solutions for the sharing economy.
"There is currently a gap in the provision of insurance products tailored for the needs of the sharing economy and we believe that Tapoly have designed solutions that are highly innovative and value adding for the sector. We are pleased to back a very credible management team and to be co-investing with the London Co-investment Fund on their 100th investment!"
The funding round was backed by LBA private investors, Downing Ventures, and the London Co-Investment Fund.
"2017 will be a transformative year for drone technology and integration with wider society, and our on-the-spot insurance solution will form one part of that. As we close this funding round I am delighted to welcome to the team some very big names in the automotive, big data, drone-tech, and insurance spaces. Together with support from Innovate UK and Ordnance Survey, Flock is even better equipped to help pave the way for a future of safe, fully autonomous drone flights"