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Daily Crunch: With $4M Pre-Seed Round, Casava Sets New Funding Record For African Insurtech

Daily Crunch: With $4M Pre-Seed Round, Casava Sets New Funding Record For African Insurtech

02/02/22, 11:09 PM
Money raised
$4 million
Industry
other
software
Round Type
pre-seed
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Company Info

Company
Casava
Additional Info
After a short-seller went after the company for alleged “inaccurate statements,” the company executed an internal review. The NFT startup tells TechCrunch it has closed a whopping $100 million in funding from Adam Bain and Dick Costolo’s 01 Advisors and Velvet Sea Ventures. That’s why Casava is neat – not simply the fact that the company just raised capital – it’s bringing insurance products to a market where they have very little penetration. Given that the startup is tackling the vegetable oil market in a manner that doesn’t result in deforestation, I dig it. But that doesn’t mean that it has figured out its incentives – some startups are working on the issue, to be clear – but now Microsoft’s GitHub is shaking the tree.