Lawyers at international legal practice Osborne Clarke’s Bristol office have advised on the £2.25m seed funding round for a start-up pioneering the use of real-time data in insurance.
London-based Flock’s investment round was led by Anthemis, a venture capital provider focused on fintech and insurtech investments. Other investors included Silicon Valley’s Plug and Play, Seed and Speed, and re-investors London VC Downing Ventures, along with a number of angel investors.
Flock will use the funding to launch its drone insurance platform internationally as well as expand its London tech team.
The firm was advised by Osborne Clarke’s Bristol-based venture capital team, in particular senior associate James Taylor, pictured left, and associate Katharine Ramsay, below right, led by partner Simon Jones, below left. 
It was introduced to the practice by Osborne Clarke’s tech products specialist associate director Claire Temple. The transaction marks the continued successful relationship with the start-up.
Osborne Clarke works with a number of innovative businesses looking to explore and harness value from innovative technology, including dronetech, fintech and insurtech – Flock being an example of all three being brought together with great success.
Flock’s first product, Flock Cover, is a ‘pay-as-you-fly’ insurance application that allows drone pilots to insure their flights for as little as one hour from their smartphone.
Flock Cover works by aggregating real-time data, including hyperlocal weather conditions, population density and proximity to high-risk areas such as airports.
Flock’s algorithms then analyse this data to quantify the risk of any given drone flight in a matter of milliseconds. The app, which launched in the UK earlier this year, is now used by more than 1,000 commercial drone pilots.
