Aviva dedicates £150m for venture arm

Aviva, the British insurance company, is set to invest an additional £150m into its venture capital division, Aviva Ventures. The division invests in early-stage digital and tech companies that provide insight into emerging technology and consumer trends, with a particular focus on areas such as customer wellbeing, mobility, sustainability, and AI. The latest investment comes after Aviva Ventures began with a fund pot of £100m in 2016 and has invested in companies such as Shepper, Owlstone Medical, Tembo Money, and Outdoorsy.

According to Ben Luckett, chief innovation officer at Aviva, the latest funding will be used to make early-stage investments in promising digital and tech firms, while also providing the firm with insight into emerging technology and consumer trends. Aviva Ventures’ first investment from the new fund is £1.5m in health tech start-up Scan.com, as part of a wider £9.7m Series A round, which will be used to improve access to diagnostic imaging and medical screening exams through its consumer-facing marketplace and APIs.

Charlie Bullock, co-founder and CEO of Scan.com, expressed his excitement over Aviva’s strong support and its significant contribution to the building of Scan.com across the UK. The Scan.com funding round also saw contributions from YZR Capital, Oxford Capital, Triple Point, Simplyhealth, and Forefront Venture Partners. The investment aligns with Aviva’s strategic objectives and demonstrates the company’s commitment to technology innovation and early-stage investment in digital and tech firms.

Aviva Ventures’ investment in Scan.com demonstrates its ongoing commitment to providing early-stage investment to promising digital and tech firms in emerging areas of technology such as health tech. With Aviva Ventures’ focus on emerging technology and consumer trends, and its access to Aviva’s resources and expertise, the latest funding is expected to lead to more exciting partnerships and collaborations in the digital and tech sectors.