Baobab Insurance, a Berlin-based insurtech company, has secured €12 million in funding to enhance its cybersecurity insurance offerings for businesses vulnerable to AI-powered cyberattacks.
The investment will enable Baobab Insurance to expand its operations and develop more comprehensive insurance products tailored to the evolving cyber threat landscape.
As AI technology becomes increasingly sophisticated, cyberattacks are becoming more frequent and complex, posing significant risks to businesses across various sectors.
Baobab Insurance’s innovative approach to cybersecurity insurance aims to provide businesses with robust protection against these emerging threats, helping them mitigate potential financial losses and reputational damage.
With this new funding, Baobab Insurance is well-positioned to capitalize on the growing demand for specialized cybersecurity insurance solutions in the European market.
