From a $3.7 million raise for an AI insurance brokerage to Harvey’s $11 billion legal AI valuation, this week’s funding roundup covers the deals shaping the future of business.
A busy week for funding across tech, agtech and retail. Here is what moved.
Rosella raises $3.7 million
Sydney-based Rosella has closed a $3.7 million pre-seed round led by Peak XV Partners and Intact Private Capital. The company is building an AI-native commercial insurance brokerage designed to automate the manual workflows that slow down brokers and frustrate clients. The platform has already reduced certificate of insurance generation from 30 minutes to under two minutes and automated client submissions across more than 100 carrier portals.
It also uses AI to compare policies in real time, flagging coverage gaps and exclusions while providing risk-profiled guidance to sales staff during live calls. Rosella is targeting small and mid-market businesses in the $215 billion US commercial insurance brokerage market.
Harvey raises $200 million at $11 billion valuation
San Francisco-based Harvey has raised $200 million in a round co-led by GIC and Sequoia, valuing the company at $11 billion. The capital will be used to expand the AI agents its customers run and grow its embedded legal engineering teams globally. More than 25,000 custom agents currently operate on the Harvey platform, handling work across mergers and acquisitions, due diligence, contract drafting and document review.
The company counts the majority of the AmLaw 100 among its customers, alongside more than 500 in-house legal teams and 50 asset management firms across 60 countries. Recent customer wins include NBC Universal, HSBC and Australian law firm Corrs Chambers Westgarth. Harvey has now raised more than $1 billion in total funding.
Rumin8 raises $4.3 million for New Zealand expansion
Perth agtech startup Rumin8 has raised US$3 million, approximately $4.3 million Australian, from New Zealand investor AgriZeroNZ as it pushes to expand across the Tasman. The company develops feed additives designed to reduce methane emissions from cattle, addressing one of agriculture’s most significant environmental challenges.
Rumin8 is currently in the final trial process for commercial registration of its product in New Zealand. The startup was founded in 2021 and is backed by Andrew Forrest’s investment vehicle among others.
Koala raises $20 million ahead of ASX listing
Online furniture brand Koala has raised $20 million in fresh capital as part of a $68 million IPO prospectus ahead of its ASX listing. The float values the business at $305 million, with new investors taking a 20.65% stake at $3.40 per share.
Existing investors sold $48.1 million worth of stock in the secondary sale, including co-founder Mitch Taylor who offloaded $8.3 million worth of shares. Among the early backers set to benefit is Australian cricket star Steve Smith, whose $100,000 seed investment a decade ago is now worth considerably more at the IPO valuation.
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