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Qumata extends Series A funding to USD23m

Qumata, a specialist in tech solutions transforming the insurance industry ecosystem with a disruptive machine learning and artificial intelligence (ML/AI) underwriting solution, has extended its Series A round of funding to USD23 million.

A number of the firms participating in this round are extending their initial involvement with Qumata, including continued investment by MMC Ventures.

This extended funding announcement comes on the back of the firms signing an agreement recently with AIA Group Limited (1299.HK) to provide services across Asia. Qumata’s solutions support the acceleration of the digital transformation of the life and health insurance industry, with Asia being at the forefront of this change.

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