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Insurtech startup Bharatsure raises Rs 6 Cr led by IPV

EntrackrEntrackr · 15d ago
Insurtech startup Bharatsure raises Rs 6 Cr led by IPV
Medial

Bharatsure, an insurtech startup offering infrastructure-as-a-service (IaaS) solutions, has raised Rs 6 crore in a funding round led by Inflection Point Ventures (IPV) with participation from Capital A and Atrium Angels. The proceeds will be used to scale its insurance infrastructure and expand embedded and group insurance offerings across India. Founded by Anuj Parekh and Sanil Basutkar, Bharatsure operates as an Infrastructure-as-a-Service (IaaS) platform that enables businesses, SMEs, and partner-led ecosystems to embed group and modular insurance products directly into their offerings. Its business model revolves around partnering with organizations to provide scalable insurance infrastructure, employee benefits, and wellness solutions, earning revenue through policy distribution, premium commissions, and value-added insurance technology services. With over 1,500 stations and 70,000 drivers in 50 cities, the startup claims to have covered over 2,00,000 lives and processed 10,000 with a 4.9/5 Google rating. It also claims to have doubled revenues in FY25, broken even at CM3, and is targeting Rs 100 crore revenue by FY28. It competes with other Insurtech players like SecureNow, BimaKavach, and Pazcare. Recently, Bharatsure announced a partnership with Battery Smart, a battery-swapping network for EVs, to launch natural calamity insurance for station partners covering fires, floods, earthquakes, and personal accidents.

Go Digit invests Rs 30 Cr in Dr. Reddy’s Lab

EntrackrEntrackr · 5m ago
Go Digit invests Rs 30 Cr in Dr. Reddy’s Lab
Medial

Go Digit invests Rs 30 Cr in Dr. Reddy’s Lab Insurtech company Go Digit has invested Rs 30 crore in pharmaceutical major Dr. Reddy’s Laboratories, acquiring a 0.32% stake in the company. “The investment in shares is being made in the ordinary course of the investment function of the company,” Go Digit said in an exchange filing. Established in 1984 by Kallam Anji Reddy, Dr. Reddy's Laboratories is an Indian multinational pharmaceutical company that manufactures and markets affordable medicines. It provides a portfolio of products and services, including active pharmaceutical ingredients (APIs), custom pharmaceutical services (CPS), generics, biosimilars and differentiated formulations. Founded in 2017 by Kamesh Goyal, Go Digit is a full-stack digital insurance company that offers a wide range of non-life insurance policies across sectors such as motor vehicle, health, travel, and property, among others. Go Digit’s profit after tax (PAT) surged 176.46% year-on-year (YoY) to Rs 118.52 crore in Q3 FY25, driven by steady revenue expansion and a controlled rise in operating expenses. As of December 31, 2024, Go Digit’s assets under management stood at Rs 18,939 crore. Go Digit competes with other notable players like Acko, ICICI Lombard, Bajaj Allianz, Tata AIG, among others.

Amicus invests Rs 125 Cr in Equirus; Federal Bank part-exits

YourStoryYourStory · 10m ago
Amicus invests Rs 125 Cr in Equirus; Federal Bank part-exits
Medial

- Private equity firm Amicus Capital has invested Rs 125 crore in Equirus Group for an undisclosed stake. - The investment includes a combination of primary and secondary purchases, with Federal Bank taking a partial exit. - The new investors in Equirus Group include Kishor Patil, Ajai Kumar, N Sivaraman, Yagnesh Dosshi, Krishna Jha, Anand Archak, Abhishek Goyal, Badri Mohapatra, Shankar Valiya, and Deepak Singhal. - Equirus Group offers investment banking, insurance broking, and asset management services. - The raised funds will be used for capital expansion, technology investments, talent acquisition, operational improvements, and risk management. - Amicus Capital Partners believes that Equirus Group is well positioned to take advantage of India's growth story.

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