Blockchain Insurtech Company Otonomi Raises $3.4 Million in Funding with Participation from GSR Ventures

Blockchain insurance technology company Otonomi announced the completion of a new round of financing worth $3.4 million, led by ATX Ventures, with participation from GSR Ventures, Greenlight Re Innovations, Punja.VC, Altari Ventures, Soundboard Venture Fund, Blackhorn VC, Bering Waters, REFASHIOND Ventures, among others. The new funds are intended to support the development of a blockchain-driven parametric cargo platform, aiming to reduce management costs by 90% and improve claims time and efficiency. (Insurtechinsights)