Wallife, based in Rome, Italy, an insurtech company that protects individuals against new risks arising from technological and scientific advances in genetics, biometrics and biohacking, announced on Wednesday that it has raised 12 million euros as part of of a Series A financing round.

According to Crunchbase, Wallife now ranks seventh in Europe in the insurtech sector by Series A investment cycle value.

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Investors in this round

The investment was led by United Ventures, an Italian venture capital firm specializing in digital technology investments. Since 2013, the company has partnered with more than 30 technology startups, supporting their process of growth and international expansion.

The round also saw the participation of a select group of Italian and international investors and business angels, including Aptafin.

Massimiliano Magrini, Managing Partner of United Ventures, says: “Scientific and technological progress is bringing change to our lives at an extremely rapid pace. In this context, we were seduced by Wallife’s pioneering vision of building the first company in the world capable of providing answers on security and protection against emerging and unknown risks.

“This investment represents United Ventures’ entry into the insurtech sector, a highly innovative and growing market. We believe that Fabio and Maria Enrica have the experience and the ambition to develop the company on an international scale, studying the new frontiers of the risks generated by technological progress, linked to the very existence of being. human, biologically and digitally,” adds Magrini.

Provide answers on security and protection against still unknown risks

Founded in 2020 by Fabio Sbianchi and Maria Enrica Angelone, Wallife focuses on protecting people against new and developing risks arising from technological innovation and scientific progress. Its objective is to create insurance products to cover risks that conventional insurance could not cover.

Areas of interest include genetic manipulation, for example, preservation of biological material and genetic identity; biohacking, the use of technologies inside the human body, such as prostheses and implantable medical devices; and the use of digital data, such as fingerprints and facial recognition.

Use of capital

Wallife says it will use the proceeds to expand the company’s international growth, develop new insurance products and strengthen its technology infrastructure. The company also plans to expand its team.

Founder Fabio Sbianchi says: “The newly obtained funding will allow us to continue working on the activities we have started and will support the market launch of the insurance products we are developing. In addition, the funding obtained will be essential to continue the research activities of Wallife’s community of innovators and risk hunters and to invest in human capital, thus strengthening our team of professionals in Italy and abroad.

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