Novee AI raises £1.6 million

Novee AI, a London-based startup looking to build an Agentic AI intelligence layer for commercial and specialty insurance underwriting, has raised £1.6 million in pre-seed funding led by 42CAP, with participation from Insurtech Gateway.

Founded in 2024, Novee’s platform can ingest submissions in any format, apply configurable underwriting logic, and surface risk insights within current workflows.

The startup will use the funding to accelerate product development, expand across other classes of business, and deepen existing partnerships with insurers.