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£1m for InsurTech startups, easyJet partners with Founders Factory & more in the Week in Tech

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Welcome to your Week in Tech – a roundup of the week’s top technology news.

In this episode, we bring you Ravelin’s £3m round, an agreement between Startupbootcamp InsurTech and Eos Partners and easyJet’s partnership with Founders Factory to invest in TravelTech startups.

Watch the video, or read on, for all this and more.

Co-innovation: Is it right for your tech startup or scaleup?

Investments

In investment news, Ravelin raised £3m in a round led by Playfair Capital. Ravelin uses machine learning to detect and fight fraud.

Neos, an InsurTech startup, raised over £1m in Seed funding. The firm’s home technology aims to prevent damage that could result in insurance claims.

Startupbootcamp InsurTech, an accelerator for startups in the insurance sector, announced an agreement with Eos Partners. The agreement will see up to £1m invested in InsurTech startups joining the 2017 cohort.

Best of British

British low-cost airline easyJet announced it’s to invest in five early-stage TravelTech startups. This is thanks to a multimillion pound partnership with Founders Factory.

As well as providing funding to existing TravelTech startups, Founders Factory and easyjet plan to co-create two companies from scratch every year.

International story

Overseas, John Underkoffler, the man who dreamt up the hand gesture-controlled computer screens in the film Minority Report, has raised $65m for his tech company.

Called Oblong Industries, it’s created a commercial version of the screen-manipulation technology seen in the film.

Download

Our download of the week is Bux. The app enables users to get involved in the world of trading and investing in stocks.

Starting off with a virtual money account, users can trade in over 200 stocks, currencies, commodities and indices. Once feeling more confident, they can also trade using real money.

Magazine

The new issue of Tech City News magazine is out now. This issue focuses on PropTech, but also covers the likes of driverless cars and the tech scene in Manchester.

Subscribe here to get your copy.

And Finally…

And finally, former Apple engineers have created the June Oven, which cooks your meals perfectly while you sit back and relax.

Programmed to recognise 60 foods and cook them to perfection, the oven uses a camera, sensors and machine learning.

It’s not cheap at $1,495, but it also connects with an app, sending you a notification when your food is ready.

That’s all for this episode. Remember to subscribe for our magazine and follow us on Twitter.

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UK tech reacts to the arrival of the Fourth EU Money Laundering Directive
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