PriyaPatel
TLDR:
- PeppercornAI raises £3.25m to develop its AI platform
- Funding round sees strong support from high net worth investors
PeppercornAI has secured £3.25m in funding to further develop its artificial intelligence (AI) platform. The insurtech identified a pipeline of B2B demand in the UK and overseas for its services and plans to use the funds to enhance its conversational AI platform in response to increased demand. Nigel Lombard, CEO and founder of PeppercornAI, believes that technology, specifically AI, has the potential to revolutionize the way consumers purchase and manage their insurance policies, offering benefits to both consumers and providers.
The funding round, which included contributions from high net worth investors and existing investors EHE Capital and Angels Invest Wales, was led by Wealth Club. Guy Remond of EHE Capital praised PeppercornAI’s team strength, while Gayle Bowen of Wealth Club highlighted the company’s potential to transform the insurance industry. Lombard expressed gratitude to the investors for their support.
