Commercial Insurance Startup Planck Re Raises $12 Million

Tel Aviv-based commercial insurance startup Planck Resolution Ltd. (Planck Re) has raised $12 million in a funding round led by Arbor Ventures, Planck Re announced Tuesday. Founded in 2016, Planck Re develops artificial intelligence-based software that helps insurance companies analyze and perform a risk assessment of businesses using publicly available data, image processing, and company data to create customized insurance policies. Viola FinTech, a venture capital fund under the Viola Group umbrella, participated in the round, making its debut investment. London-headquartered venture capital firm Eight Roads Ventures, the proprietary investment arm of Fidelity International Ltd., also participated.