British multinational insurance company Aviva is pumping a further £150m in funding into its technology venture capital firm division.
Aviva Ventures invests across customer wellbeing, mobility, sustainability and “opportunities created by new technology”, such as AI.
Ben Luckett, chief innovation officer at Aviva, said: “The £150m commitment to Aviva Ventures will be used to make early-stage investments in promising young digital and tech firms that also provide us with insight on emerging technology and consumer trends.”
Launched in 2016, the venture capital division began with a fund pot of £100m. Since then it has gone on to invest in companies such as Tembo Money, Outdoorsy, Shepper and Owlstone Medical.
Aviva Ventures’ first investment from its latest fund is £1.5m into the health tech startup Scan.com this week as part of a wider £9.7m Series A round.
“We are thrilled to have such strong support from Aviva as we continue to build Scan.com across the UK,” said Charlie Bullock, co-founder and CEO, Scan.com.
“The capital will be used to continue to improve access to diagnostic imaging and medical screening exams, through our consumer-facing marketplace and application programming interfaces (API).”
Its round also saw contributions from YZR Capital, Oxford Capital, Triple Point, Simplyhealth and Forefront Venture Partners.