Hedvig completes a $10.4M capital investment round from Obvious Ventures and D-Ax
Hedvig, a Stockholm, Sweden-based company providing digital insurance services, announced in a press release the completion of a SEk 100M ($10.4M) capital investment round.
The funding was provided by American venture capital company Obvious Ventures and by local corporate venture firm D-Ax Corporate Venture Capital, an investment firm backed by retail group Axel Johnson.
The investment round, which values the company at SEK342 million ($35.5M), will be used to develop new services and products, expand Hedvig's customer base and expand the service in and outside Sweden.
Hedvig, founded in 2016 by John Ardelius, Fredrik Fors and CEO Lucas Carlsen, is working for the development of an insurance platform for property and home accessories by using AI to help evaluate customers and operate on a policy of using surplus for social good.
The company launched its service in May 2018 and since then it claims to have insured more than 15,000 people, with a total insurance value of SEK 10 billion.
Prior to this transaction, Hedvig raised $4M from investors including Cherry Ventures, Phillian Invest AB, Tacito Partners and angels Khaled Helioui, Nicklas Storåkers, Sophia Bendz and Sven Hagströmer.