Cytora secures £25M Series B for its AI-powered commercial insurance underwriting solution

Cytora, a U.K. startup that developed an AI-powered solution for commercial insurance underwriting, has raised £25 million in a Series B round. Leading the investment is EQT Ventures, with participation from existing investors Cambridge Innovation Capital, Parkwalk and a number of unnamed angel investors. A spin-out of the University of Cambridge, Cytora was founded in 2014 by Richard Hartley, Aeneas Wiener, Joshua Wallace and Andrzej Czapiewski -- although both Wallace and Czapiewski have since departed.