Novee AI Secures £1.6m pre-seed investment for AI platform
Deal News | Aug 04, 2025 | Osborne Clarke
International legal practice Osborne Clarke has successfully advised Insurtech company Novee AI in raising £1.6 million in a pre-seed funding round. The investment, primarily led by 42Cap, with supplementary backing from Insurtech Gateway, aims to bolster the development of Novee AI's artificial intelligence-driven risk assessment platform designed for commercial and speciality insurers. Through innovative integration with existing systems, this platform seeks to automate and streamline the complex processes involved in underwriting and broker submissions. This initiative not only aims to lessen administrative workloads but also offers real-time pipeline and portfolio analysis. The deal was managed by Osborne Clarke's corporate team, including Senior Associate Uday Mehra and Partner James Taylor, showcasing their expertise in early-stage company advisory, particularly within the tech and media sectors. With this new funding, Novee AI plans to accelerate its product development, expand into new business areas, and deepen collaborations with leading insurers, marking a significant stride in the insurtech landscape.
Sectors
- Insurance Technology (Insurtech)
- Legal Services
- Venture Capital
Geography
- United Kingdom – The legal advisory firm Osborne Clarke is based in the UK, and Novee AI is working with insurers in the London market.
Industry
- Insurance Technology (Insurtech) – The article is centered around Novee AI, a company in the Insurance Technology sector aimed at automating insurance processes and enhancing risk assessment through AI.
- Legal Services – Osborne Clarke, a legal advisory firm, played a significant role in assisting Novee AI with their successful pre-seed funding round.
- Venture Capital – The funding for Novee AI was provided by venture capital investors 42Cap and Insurtech Gateway, which are known for investing in early-stage companies.
Financials
- £1.6 million – The total amount raised by Novee AI in the pre-seed funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Novee AI | Target | Company | An insurtech startup focused on developing AI-powered risk assessment platforms for insurers. |
| Osborne Clarke | Legal Advisor | Company | A UK-based international legal practice advising Novee AI on their pre-seed investment round. |
| 42Cap | Lead Investor | Company | An early-stage B2B SaaS investor which led the funding round for Novee AI. |
| Insurtech Gateway | Investor | Company | An investor focused on insurance technology startups, participating in the funding round. |
| Haris Khan | CEO & Co-founder | Person | Chief Executive Officer and co-founder of Novee AI. |
| Uday Mehra | Senior Associate | Person | Senior Associate at Osborne Clarke leading the legal advisory team for Novee AI's funding. |
| James Taylor | Partner | Person | Partner at Osborne Clarke assisting in legal matters concerning Novee AI's funding. |