Nettle raises $4.8m in seed funding led by MTech to scale insurance inspection software
MTech led the oversubscribed financing round, with participation from Project A Ventures and several other backers.
Nettle builds artificial intelligence software designed to streamline commercial insurance inspections and risk assessment processes.
Nettle has secured $4.8m in a seed financing round led by MTech. The capital will allow the company to grow its headcount and scale operations across the United States and Europe.
Project A Ventures, which backed Nettle's previous pre-seed round, increased its commitment alongside participation from Sure Valley Ventures, Portfolio Ventures, Ventures Together, and angel investors. The latest injection brings Nettle's total funding to $6.8m.
Founded in 2024 by former QuantumBlack executives Jack Miller and Katya Kinane, the company provides an artificial intelligence platform that assists insurers with site inspections and risk reports. The technology aims to reduce lengthy inspection backlogs faced by commercial underwriters.
From the founder
"The third thing that insurers are really interested in is prevention and also customer retention,"
Katya Kinane
Co-founder at Nettle
Investor perspective
"We are very impressed by Nettle’s achievements so far, and by the considerable experience the founders have in a sector of insurance that is usually ignored by start-ups,"
Kevin McLoughlin
Co-Founder and Partner, MTech Capital
Use of funds
- 01Expand into international markets
- 02Grow the team