# Lumnion

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lumnion

- Industry: Software
- Headquarters: Munchen, Germany
- Website: www.lumnion.com/
- Total disclosed funding: $1M
- Latest round: Seed (Mar 8, 2024)
- Investors on record: 3

## About

Founded in 2019 by Aren Haddeler and others and based in München, Germany, Lumnion GmbH operates as a software platform that engages in developing an insurance pricing system using artificial intelligence. In March 2024, Lumnion GmbH raised USD 1 million in venture funding led by Maxis, and KT Portföy. As of 2024, the company is led by its CEO, Cenk Tabakoglu. Some of the company’s customers include AKSigorta, Allianz, Cigna, Fibasigorta, HDI, Mailo, and others.

The company’s offerings include its end-to-end platform, designed to streamline the entire pricing process, ensures accurate risk pricing, analysis, and rate engine operations through automation of data preparation using advanced machine learning techniques. The firm’s platform supports a wide range of machine learning algorithms including XGBoost, Random Forest, Decision Tree, GLM, and GAM, providing flexibility in risk modeling. Lumnion key feature is that clients can convert ML algorithm outcomes into base prices and coefficients, fostering trust and understanding in the pricing process. In addition, the company offers integration with core systems through APIs and cloud-enabled capabilities, ensuring implementation and operation. Furthermore, the firm offers a range of modules tailored to specific pricing needs, from automated data preparation to commercial price management scenario analysis.

The organization plans to use the March 2024 funding to develop its artificial intelligence product.

## Funding rounds

- Seed, Mar 8, 2024, $1M — Vakifbank, Maxis, OBSS Technology

## Investors

- Vakifbank — Seed
- Maxis (https://capitalatlas.ai/funds/maxis) — Seed
- OBSS Technology — Seed