3 years ago

ChAI Secures Seed Funding to Expand Commodity Insurance Products

  • ChAI, a London-based provider of real-time commodity price forecasts, has raised an undisclosed amount of seed funding led by Seraphim Space

  • The round also saw participation from Insurtech Gateway, Passion Capital, Primo Space Fund, 2050Cap and Portfolio Ventures

  • The company will use the funds to expand its commodity insurance products for smaller companies

  • ChAI uses AI to analyze thousands of data sets to identify variables driving market prices and predict raw material costs

  • The company's market intelligence tool has the technical capabilities to price insurance premiums and simulate underwriting portfolios.

      • ProblemFinancial Services

      "Small companies in the commodities market lack access to sophisticated pricing data and risk management tools, making it difficult for them to accurately predict and hedge against price fluctuations. This can lead to significant financial losses and limit their growth potential."

      Solution

      "ChAI provides real-time commodity price forecasts and risk management tools, leveraging AI to analyze vast data sets and identify market trends. This enables small companies to make informed decisions about purchasing commodities, optimize hedging strategies, and reduce their exposure to price volatility."

      Covered on