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ClaimBuddy bags new investment from Bharat Innovation Fund

EntrackrEntrackr · 1y ago
ClaimBuddy bags new investment from Bharat Innovation Fund
Medial

Health insurance startup ClaimBuddy has raised Rs 24.8 crore ($3 million) from Bharat Innovation Fund. This is the second notable investment for the Gurgaon-based company since its incorporation. The board at ClaimBuddy has passed a special resolution to allot 10 equity and 2,980 compulsory cumulative preference shares at an issue price of Rs 83,284 each to raise Rs 24.8 crore, its regulatory filing sourced from the Registrar of Companies (RoC) shows. ClaimBuddy streamlines the health insurance claim process for both patients and hospitals by utilizing technology and efficient operations to guarantee smooth and hassle-free claims. According to its website, the company has managed over 500 crore claims, partnered with 250 plus hospitals, helped more than 35,000 patients, and currently operates in 6 cities. As per startup data intelligence platform TheKredible, the company has been valued at $22 million (post-allotment). ClaimBuddy has been backed by Chiratae Ventures, Redbright Partners, Lets Ventures, and individuals like Rohit Bansal and Kunal Bhal. The company raised around Rs 50 crore to date including a $3 million round in February 2022. Before the fresh proceeds, Chiratae Ventures was the largest external stakeholder with 9.77% followed by Rebright Partners and LetsVenture. Its co-founders Ajit Patel and Khet Singh owned 55.62% of the company. When it comes to scale, the four-year-old company recorded 1.8X growth in revenue to Rs 6.14 crore in FY23 from Rs 3.36 crore in FY22. It posted Rs 71 lakhs in the fiscal year ending March 2023.

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ValleyNXT Ventures floats Rs 400 Cr fund to back seed- to pre-Series A startups

EntrackrEntrackr · 9d ago
ValleyNXT Ventures floats Rs 400 Cr fund to back seed- to pre-Series A startups
Medial

ValleyNXT Ventures has launched Bharat Breakthrough Fund–I, a SEBI-registered Category I venture capital fund, with a total size of Rs 400 crore to back seed to pre-Series A startups. In the phase between validation and scale, startups often fail due to fragmented advice, premature scaling pressure, and a lack of execution clarity. Bharat Breakthrough Fund has been designed to address this gap through a unique VC-plus-accelerator model, powered by ValleyNXT’s proven MIB framework—Mentorship, Investment, and Business Connects. Bharat Breakthrough Fund–I is targeting a base corpus of Rs 200 crore, with a greenshoe option of an additional Rs 200 crore, creating a Rs 400 crore fund focused on investing in deep-tech and tech-first startups. The fund will support innovation across sectors including space, defence tech, robotics, AI/ML, cybersecurity, biotech, sustainability, and consumer innovation. According to ValleyNXT Ventures, it has already supported multiple early-stage startups through its strong angel network and accelerator-driven investment approach. With a proven track record of evaluating over 5,000 deals and investing in more than 10 promising ventures, the firm has consistently enabled startups with capital, mentorship, and strategic business connections to accelerate growth. The fund is led by an experienced leadership team comprising Nikhil Agarwal, Madhu Vasepalli, Anand Saklecha, and Suresh Goyal, bringing together deep expertise in venture investing, acceleration, governance, and deep-tech innovation.

ClaimBuddy, four others secure early-stage funding

VCCircleVCCircle · 1y ago
ClaimBuddy, four others secure early-stage funding
Medial

Health insurance platform ClaimBuddy has raised $5 million in a Series A funding round. The investment will be used to improve technology, expand the team and sales network, and add new product lines. ClaimBuddy has processed claims for over 35,000 patients and has collaborations with 250 partner hospitals across India. Non-banking financial company FincFriends has closed a funding round at $5 million, which will be used to expand product offerings and scale operations. Revenue operations startup Clientell raised $2.5 million in seed funding, while background verification platform TraqCheck secured funding from Caret Capital. Mobility startup Advance Mobility also secured an undisclosed amount of funding.

Valyx bags $800K in pre-seed round

EntrackrEntrackr · 1y ago
Valyx bags $800K in pre-seed round
Medial

B2B financial management platform Valyx has raised $800K in its pre-seed funding round co-led by Huddle Ventures and Waveform Ventures. The round also saw participation from notable investors including Bharat Founders Fund and Propell Fund (LetsVenture’s in-house VC fund led by Shanti Mohan). The proceeds will be used towards attracting and onboarding new talent for its sales team, as well as expanding its engineering team to accelerate its product roadmap. Founded in late 2023, Valyx automates billing and receivables thus accelerating payments, expediting financial close, and improving cash flow for businesses. Its offerings include rate card management, usage-based billing, collections, cash application, reconciliation, dispute management and collaborative receivables tracking. Valyx helps finance and sales teams to concentrate on strengthening their relationships with buyers by automating these crucial but repetitive revenue and receivables operations. The startup claims to have processed more than Rs 200 crore in accounts receivable. Over the next two years, Valyx plans to build a full-stack AI-powered revenue management platform that includes B2B payments and financing.

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