PriyaPatel
TLDR: Insurtech startup Bharatsure raises $1 million in funding round led by Capital-A
Key Points:
- Insurtech startup Bharatsure raises $1 million in funding round led by Capital-A
- Parent company of Healthysure
- Round also saw participation from Grip Invest and existing backers Inflection Point Ventures, Dexter Ventures, HEM Angels, and We Founder Circle
- Bharatsure provides Infrastructure-as-a-Service (IaaS) solutions to insurance distributors
- Funds will be used to democratize group insurance and make it accessible and affordable for organizations and groups across the country
Insurtech startup Bharatsure raises $1 million in funding round led by Capital-A
Insurtech startup Bharatsure, the parent company of Healthysure, has raised $1 million in a funding round led by early-stage venture capital fund Capital-A. The round also saw participation from Grip Invest and existing backers Inflection Point Ventures, Dexter Ventures, HEM Angels, and We Founder Circle.
Bharatsure provides Infrastructure-as-a-Service (IaaS) solutions to insurance distributors like licensed brokers, agents, banks, and institutions to help them distribute group insurance and healthcare seamlessly. Their offerings also include support for identifying insurance partners, product pricing, payments, operations, and claims.
The startup had previously raised $1.2 million in funding in February 2022. Cofounder and CEO Anuj Parekh stated that the funds will “further fuel our mission to democratize group insurance, making it accessible and affordable for organizations and groups across the country.”
Investor Backing the Funding Round
Capital-A, an early-stage venture capital fund, led the funding round for Bharatsure. Their founder and lead investor, Ankit Kedia, spoke highly of Bharatsure’s potential to establish a digital ecosystem catering to employers nationwide and facilitating the acquisition of diverse insurance products and healthcare services. Capital-A believes that Bharatsure’s alignment with evolving market dynamics makes it a transformative force within the Indian insurtech sector.
Other participants in the funding round included Grip Invest and existing backers Inflection Point Ventures, Dexter Ventures, HEM Angels, and We Founder Circle, highlighting the market’s confidence in Bharatsure’s business model and growth potential.
Conclusion
Bharatsure’s successful funding round, led by Capital-A, demonstrates the continued interest in the insurtech sector. The $1 million raised will enable Bharatsure to expand its IaaS solutions and further democratize group insurance in India. With the support of venture capital funds and existing backers, Bharatsure is well positioned to transform the insurance distribution landscape and provide accessible and affordable insurance options for organizations and groups across the country.
