Avinew has announced $5M in seed funding. The investment was led by Crosscut, with additional participation from American Family Ventures, Draper Frontier, and RPM Ventures.
Avinew is an InsurTech company reinventing auto insurance for the age of autonomous and semi-autonomous vehicles. It recognizes the safety benefits of new auto tech and is designing its insurance programs around vehicles equipped with advanced active safety features.
Avinew’s insurance programs use AI and telematics to detect and measure when semi-autonomous or autonomous features are responsibly engaged to determine premium discount eligibility.
According to the company through its proposed insurance solutions, consumers and fleets who own vehicles equipped with autonomous and semi-autonomous capabilities will have access to insurance that will reward them for using their vehicle’s safety features.
Source: Press Release