LONDON: Nettle Limited, a startup that makes artificial intelligence software for commercial insurers, has raised $4.8 million in an oversubscribed seed funding round, bringing its total funding to $6.8 million, a statement noted.

The round was led by MTech. Existing investor Project A Ventures made a significant follow-on investment, and Sure Valley Ventures, Portfolio Ventures, Ventures Together and select angel investors also took part. Nettle previously raised $2 million in a pre-seed round in March 2025.

Sure Valley Ventures’ second fund, known as SVV2, made the investment. Mindflair plc, an AIM-listed company that invests in AI-related technology, holds an interest in the fund and announced the deal.

Nettle has developed an AI workspace for loss control, which helps commercial insurers identify, capture, analyze and report physical risk. The company says its platform allows insurers to complete risk inspections five times faster. It says the software is already used by insurers including Allianz and Brotherhood Mutual in Europe, the U.S. and Asia.

The company was founded in 2024 by Jack Miller and Katya Kinane, who previously worked together at QuantumBlack. Nettle plans to use the new money to expand in the U.S. and Europe and to grow its engineering and go-to-market teams.

Mindflair has built a portfolio of more than 40 AI-focused companies and says it continues to support them as they develop their technologies and expand internationally.