MotionsCloud raises $2 million

Munich-based MotionsCloud has raised $2 million in a new funding round. Investors participating in the round include SOSV, Net Insurance, AI Startup Incubator, ParticleX, Artesian, Excon Services, and the Global Insurance Accelerator.

Founded in 2016, MotionsCloud helps property and vehicle inspection teams to streamline and automate inspection and insurance claims processes via its AI damage assessment engine.

“MotionsCloud is improving millions of lives by making the insurance claims process speedy, fair and digital claimants and policyholders. Having worked with the company since the earliest days, we’re thrilled to help the company scale global heights. Motionscloud’s international expansion into Europe, America, and Asia as well as its partnerships with leading players beyond the insurance industry are the best proof of the company’s tremendous potential.” – Oscar Ramos, Partner at SOSV.

“We are glad to participate in this round together with important new investors. Since our partnership in 2019, MotionsCloud has made significant progress in terms of growth and development and this financing is an important confirmation of the trust placed in it. This partnership will give Net Insurance the opportunity to further improve its digital proposition thanks to an increasingly precise and timely offer of the services provided.” – Fabio Pittana, Chief Operating Officer of Net Insurance.