Blockchain insurance technology firm Otonomi has raised $3.4 million in a financing round led by ATX Ventures, with participation from GSR Ventures, Greenlight Re Innovations, and others. The funds will be used to develop a blockchain-driven parametric cargo platform designed to cut management costs by 90% and enhance claims processing efficiency. This investment aims to bolster Otonomi's efforts in revolutionizing the insurance sector through innovative blockchain solutions.