Ondo InsurTech plc (LSE:ONDO) has raised £2.28 million through a mix of placing and subscription, strengthening its ability to scale in the fast-growing U.S. market. The capital will support expansion of U.S. Plumber coverage, speed up the national deployment of its LeakBot technology, and fund development of LeakBot Edge for outdoor installations in hotter climates. With European demand subdued, the company is sharpening its focus on the U.S., where customer numbers and recurring revenue have been climbing rapidly.
While Ondo’s strategic momentum in the United States is encouraging, its financial profile remains a key challenge. Persistent losses and elevated leverage weigh on the outlook, with technical indicators signalling a broadly neutral trend. Valuation measures also reflect the company’s ongoing financial pressures.
More about Ondo InsurTech plc
Ondo InsurTech plc specialises in home insurance claims-prevention technology. Its flagship product, LeakBot, is designed to detect water leaks early and reduce damage-related claims, offering insurers and homeowners an efficient and proactive risk-management solution.
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