Hyundai and Kia invest in Koop
Koop Insurance, an insurance technology and specialty brokerage company focused on commercial autonomy and robotics, has announced a strategic investment from Hyundai Motor Company and Kia Corporation to boost product development and distribution capabilities for autonomous vehicles and robotics.
In July, Koop closed a $4.5 million funding round.
Koop plans to work with Hyundai and Kia on increasing the adoption of robotics-based products and services through risk evaluation and convenient delivery of new insurance coverages.
Founded in 2020, Koop claims to have developed an underwriting platform that uses alternative data to perform risk evaluation for a wide range of robotics use cases, including autonomous vehicles.