Otonomi raises $5 million

Parametric insurance startup Otonomi has raised $5 million in Series A funding from Hivemind Capital, Rothschild & Co Asset Management, ATX Venture Partners, Portline Capital, and Cyberport.

Founded in 2021, the Brooklyn-based startup offers cargo delay insurance. The company’s technology platform combines data analytics, smart contracts, and integrated digital payment systems to deliver real-time cargo risk pricing and automated claims processing.

The investment will accelerate Otonomi’s market expansion across Americas, EU, GCC, and Asia.‍

“This strategic funding represents a unique accelerant to our rapid growth and to deploy our risk platform at scale. The industry has been constrained by laggard processes and tech for far too long, as a truly innovative fintech, we not only position new ideas, but also leapfrog decades in the future.” – Yann Barbarroux, CEO and Founder of Otonomi. ”

‍”Cargo delays cost hundreds of billions of dollars each year. Cargo insurance underpins the global movement of goods, yet it still depends on slow and costly manual claim processes. Otonomi’s platform brings long-overdue modernization to this critical layer of payment infrastructure, leveraging AI, smart contracts, and stablecoins on blockchain to deliver compliant cargo risk solutions at scale.” – Emmanuel Vallod, Partner and Head of Ventures at Hivemind Capital.