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Plum Bets Big on Digital Health with INR 200 Cr Investment

StartupTalky

StartupTalky · 1m ago

Plum Bets Big on Digital Health with INR 200 Cr Investment

Plum, a Bengaluru-based insurtech company, announced an INR 200 crore investment over the next three to four years to expand into full-stack digital health services. The investment, supported by Tiger Global, aims to introduce Plum Health, featuring AI-powered health tracking, teleconsultations, and diagnostics for Indian professionals. Led by Prayat Shah from Wellthy Therapeutics, the initiative will focus on technology, hiring, IT infrastructure, collaborations, and marketing. Plum currently serves over 500K individuals with over 4,000 customers.

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Employee well-being startup Plum invests Rs 200 Cr to expand beyond insurance

YourStory

YourStory · 1m ago

Employee well-being startup Plum invests Rs 200 Cr to expand beyond insurance

Plum, a Bangalore-based employee health benefits platform, has announced a Rs 200 crore ($25 million) investment to expand from insurance into digital health services. The company introduced Plum Health Checkups, an at-home screening service with advanced biomarkers and consultations. This initiative marks Plum's shift towards focusing on preventive healthcare, driven by rising chronic illnesses detected in its health camps. Plum aims to enhance employee wellness through proactive health checks, eventually extending services to individual consumers.

Plum expands into personal insurance sector, to invest $6M over two years

YourStory

YourStory · 6m ago

Plum expands into personal insurance sector, to invest $6M over two years

Insurtech startup Plum plans a $6 million investment over two years to expand into personal insurance, aiming to cover 10 million individuals by 2030. The Bengaluru-based company, known for transforming corporate health insurance, appointed Atul Mishra as head of personal insurance. Plum seeks to address the gap in coverage for over 400 million Indians by offering transparent, affordable options. Already facilitating $120 million in premium through corporate insurance, Plum will integrate personal insurance into its existing mobile platform.

InfoEdge, Anicut, Kettleborough VC, Mumbai Angels strike early stage bets

VCCircle

VCCircle · 1y ago

InfoEdge, Anicut, Kettleborough VC, Mumbai Angels strike early stage bets

Fintech startup InPrime Finserv has raised $3 million in a Series A round led by Matrix Partners India, with participation from InfoEdge Ventures, Titan Capital, and Kettleborough VC. InPrime plans to use the funds to expand its geographical footprint, strengthen its team, develop digital channels, and diversify its loan portfolio. Health and wellness startup Zingavita secured INR 10 crore ($1.2 million) in a pre-series A funding round led by Anicut Capital. Biotech startup Vgenomics India has closed a seed investment round led by Mumbai Angels and O2 Angel Network to develop diagnostics solutions for rare diseases.

IFC teams up with PE firm Solcon Capital for deeptech bets in India, South Africa

VCCircle

VCCircle · 1y ago

IFC teams up with PE firm Solcon Capital for deeptech bets in India, South Africa

The International Finance Corporation (IFC) has partnered with Solcon Capital, a private equity firm, to establish a co-investment platform targeting deep-tech companies in India and South Africa. The platform will focus on sectors such as 5G, artificial intelligence, internet of things, big data, and cybersecurity. The financial details of the partnership were not disclosed. The strategic partnership aims to identify and nurture investment opportunities in the deep-tech sector in these emerging markets, supporting the growth of the digital economy. The collaboration will also explore co-investment opportunities globally, with a specific focus on India and South Africa.

Plum's PolicyGPT Sees Threefold Adoption, Handling 68% Of Queries Autonomously

OutlookIndia

OutlookIndia · 1y ago

Plum's PolicyGPT Sees Threefold Adoption, Handling 68% Of Queries Autonomously

Plum, a group health insurance and business insurance provider, has reported a threefold increase in adoption of its PolicyGPT tool since its launch in April 2023. The tool, powered by OpenAI's advanced GPT model, resolves 68% of customer inquiries, allowing customer success agents to focus on personalized claims support. Plum aims to empower consumers with seamless query resolution and transparency in the insurance industry. The company has introduced various innovative features in the past, including WhatsApp claims and paperless reimbursements. Plum had recently raised $15 million in its Series A funding round.

Bessemer hires Cisco’s Pankaj Mitra to lead AI, Cybersecurity bets

YourStory

YourStory · 2m ago

Bessemer hires Cisco’s Pankaj Mitra to lead AI, Cybersecurity bets

Global venture capital firm Bessemer Venture Partners has appointed Pankaj Mitra as a partner in its India investment team, focusing on opportunities in AI, enterprise technology, and cybersecurity. Mitra, formerly with Cisco and Infosys, brings over 25 years of experience in corporate investing and product strategy. His appointment aligns with Bessemer's India-focused $350 million fund targeting AI, fintech, digital health, and enterprise-tech. Bessemer aims to leverage the AI platform shift to support transformative founders in India.

Shaan Patel Asset Management Launches AIF, Targets INR 200 Cr Corpus

StartupTalky

StartupTalky · 1m ago

Shaan Patel Asset Management Launches AIF, Targets INR 200 Cr Corpus

Shaan Patel Asset Management has launched an open-ended Category III Alternative Investment Fund (AIF), targeting a corpus of INR 200 crores. Initially, it has secured commitments of INR 25 crores from investors. The AIF employs a flexi-cap strategy, investing in large, mid, and small-cap stocks with a 10% cap per stock. Utilizing a quant-driven model for dynamic valuations, the fund aims to outperform the NIFTY 500 Index while focusing on sectors like AI and renewable energy.

IFC teams up with PE firm Solcon Capital for deeptech bets in India, South Africa

VCCircle

VCCircle · 1y ago

IFC teams up with PE firm Solcon Capital for deeptech bets in India, South Africa

The International Finance Corporation (IFC) and private equity firm Solcon Capital are partnering to create a co-investment platform that will focus on investing in deep-tech companies in India and South Africa. The two investors plan to invest in areas such as 5G, artificial intelligence, IoT, big data, and cybersecurity. The financial details of the partnership were not disclosed, but the value of funding will depend on each company and their investment requirements. The collaboration aims to propel the digital economy in these emerging markets by supporting growth in the deep-tech sector.

Angel Network BizDateUp Launches INR 200 Cr Fund To Back Non-Metro Startups

Inc42 · 1y ago

Angel Network BizDateUp Launches INR 200 Cr Fund To Back Non-Metro Startups

Angel investing platform BizDateUp Technologies has launched an INR 200 Cr Category I Alternative Investment Fund (AIF) to invest in technology startups in India. The fund will focus on startups from Tier-II and III cities, with a special emphasis on sustainability and social impact sectors. BizDateUp allows individuals to invest in Indian startups with a minimum capital of INR 1 Lakh. The platform claims to have raised over $10 Mn in the financial year 2023-24 from over 1,000 active angel investors. BizDateUp has already invested in over 25 startups from non-metro cities in the previous fiscal year.

Startup news and updates: Daily roundup (February 21, 2025)

YourStory

YourStory · 6m ago

Startup news and updates: Daily roundup (February 21, 2025)

YourStory's update covers the Indian startup ecosystem with highlights including BluSmart launching an EV fleet for pets, and Shraddha Kapoor’s jewelry brand securing funding on Shark Tank India. Edtech unicorn LEAD's CEO Sumeet Mehta emphasizes public-private partnerships. Walmart's sales grew globally without Flipkart's boost. Head Digital Works acquired Adda52 to expand its poker portfolio. Insurtech startup Plum plans a $6M investment in personal insurance, and FirstCry's company secretary resigned.

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