Cathay Innovation led a $19m Series B funding round in Igloo.

Cathay Innovation, a global venture capital fund, led a $19m Series B funding round in Igloo, an insurtech AI platform, with participation from Openspace Ventures and ACA Investments. The funding will be used to invest into its full insurance stack capabilities, which ranges from cybersecurity insurance and e-wallet insurance to transit and travel insurance. Funds will also be allocated to innovating its risk assessment and artificial intelligence-powered claims assessment tools.