A London-based InsurTech startup has raised £3.6 million in seed funding to expand its AI-driven risk assessment platform globally. The round, led by MTech with participation from Project A Ventures, SVV (Sure Valley Ventures), and others, brings the company’s total funding to $6.8 million after a $2 million pre-seed round in March 2025.
Founded in 2024 by Jack Miller and Katya Kinane, former colleagues at McKinsey’s QuantumBlack unit, Nettle addresses a growing gap in commercial insurance. Insurers face mounting risks to evaluate while experienced risk engineers, 40% of whom are expected to retire by 2030, struggle with backlogs of up to six months. The platform consolidates risk identification, evidence capture, and reporting into a single AI workspace, enabling insurers to complete inspections five times faster and manage risks across policy lifecycles.
Nettle’s technology initially focused on commercial property but has since expanded to cover liability, construction, and workers’ compensation. The latest funding will accelerate growth in the US and Europe, while also extending its reach to insurance agents and policyholders, a shift that allows insurers to gather data from sites previously deemed uneconomical to inspect.
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The platform’s adoption reflects its practicality: Allianz and Brotherhood Mutual are among its early clients, with the company already operating in Europe, the US, and Asia. Miller emphasized that the tool turns loss control into a competitive edge by overcoming team capacity limits. “Our AI workspace gives insurers the tools to bring more of the portfolio into view, either through risk engineers, agents, or even policyholders,” he said.
Kevin McLoughlin of MTech highlighted the platform’s appeal to global insurers, noting its minimal integration requirements and use of generative AI to streamline physical risk assessments. The funding will now support scaling engineering and sales teams, ensuring the platform’s expansion aligns with customer demand.
Funding Allocation and Platform Expansion
The technology consolidates data collection, analysis, and reporting into a unified workspace, reducing inspection backlogs and improving efficiency for underwriting teams.
