Hedman Partners advised DriveX Technologies on raising 200 000 EUR

DriveX, a technology company that develops vehicle verification software, has raised € 200,000 to digitize insurance processes.

Investors include the management of Carglass Estonia, the business angel fund Lemonade Stand, as well as Taavi Rõivas, Taavi Tamkivi, and several others.

CEO Rauno Sigur commented that the investment will be mainly focused on product development, expanding the team, and entering new markets.

The software developed by DriveX, which has been operating since 2019, uses machine vision to detect vehicles. Automating verification processes makes policy sales and claims handling fast, saving insurance companies and customers time and money.

The client was advised by senior associate Kati Pino.