Germany-based incubator operator Next Big Thing has completed a €12m ($13.5m) series A round led by Hannover Digital Invest, a corporate venturing subsidiary of industrial insurance provider HDI Global.
Finlab EOS, the venture capital fund backed by blockchain protocol producer Block.one and company builder FinLab, also contributed to the round.
Founded in 2016, Next Big Thing has formed an incubator for blockchain and internet-of-things technology startups, and in addition to providing funding HDI intends to also assist in company development.
Thomas Kuhnt, the board member at HDI Global responsible for projects, organisation and IT, said: “Data-driven models are becoming increasingly important in the industrial insurance segment. We intend to actively shape this market.
“With Next Big Thing, we are taking the next step towards the machine economy in order to be able to offer our customers integrated solutions and services even after the conclusion of policies.”
