W1 Forward InsurTech Accelerator Alumni secures $1.3M Seed Funding

Congrats to Road Safety startup Kruzr, Alumni of the ITHM Accelerator Program’s third Batch in 2018

Munich, Feb 6, 2019

InsurTech startup Kruzr, one of the 2018 Insurtech Hub Munich’s W1 Forward accelerator program alumni, has raised $1.3 million for its seed round led by Saama Capital. As the founders told Indian newspaper ‘The Economic Times’, the funds will be used to expand Kruzr’s technology team, scale up its products and expand business in Europe and the UK.

Kruzr was founded in 2016 by Pallav Singh, Ayan Srivastava, and Jasmeet Singh Sethi. The team has developed an AI-based drivers safety app which reduces the distraction of mobile devices while behind the steering wheel. Insurance companies can use this preventive telematic service to personalize policy premiums and improve their risk models.

Manuel Holzhauer, Managing Director of InsurTech Hub Munich, congratulates the Kruzr team: “We’re happy to see our accelerator alumni thrive. This is also a strong affirmation of our program’s high standards and the benefits we provide for startups. We wish Kruzr all the best – you guys really rock!”. Ayan Srivastava thanks InsurTech Hub Munich: “Your role has been instrumental in getting us this far. Huge thanks to all insurance partners and the WERK1 team!

For more insights on the funding read the full „Economic Times“ article

Learn more about Kruzr at kruzr.co