Bharatsure, an insurtech startup, secures $1 million in funding in a round led by Capital-A, along with participation from its existing investors.

Healthysure's parent company, Bharatsure, has successfully secured $1 million in a funding round led by early-stage VC fund Capital-A. Grip Invest and existing supporters, including Inflection Point Ventures, Dexter Ventures, HEM Angels, and We Founder Circle, also participated in the funding round. Bharatsure specializes in providing cutting-edge Infrastructure-as-a-Service (IaaS) solutions to insurance distributors, such as licensed brokers, agents, banks, and institutions. The platform empowers these entities to efficiently distribute group insurance and healthcare services.

The company's comprehensive services encompass support for identifying insurance partners, product pricing, payments, operations, and claims. Additionally, Bharatsure's infrastructure facilitates embedded insurance and healthcare solutions, with a particular focus on group health insurance. The strategic integration of these services and technologies aligns with Bharatsure's goal of significantly expanding insurance coverage throughout India, contributing to a financially secure future for the masses.

Capital-A, the leading investor in this funding round, is known for supporting the growth of Indian startups leveraging advanced technologies in the BFSI sector to address challenges on a large scale. Bharatsure's Co-founder and CEO, Anuj Parekh, expressed gratitude for Capital A's support, emphasizing that the fresh capital injection will further propel their mission to democratize group insurance across the country.

Sanil Basutkar, Co-founder and Chief Product Officer, highlighted the significant health security gap in India, with approximately 90 crore Indians lacking coverage. He emphasized the potential of group insurance to address this gap and affirmed Bharatsure's commitment to equipping the entire insurance ecosystem with the necessary tools for effective group insurance distribution.

Ankit Kedia, Founder & Lead Investor at Capital A, recognized Bharatsure's potential to establish a digital ecosystem catering to employers nationwide, revolutionising the Indian Insurtech sector. The company's ability to facilitate the acquisition of diverse insurance products and healthcare services aligns with evolving market dynamics, making it an attractive investment.

Devendra Agrawal, Founder of Dexter Ventures, expressed confidence in Bharatsure's growth journey and doubled down on their investment. He commended the company's contributions to insurance penetration across India, particularly in the realm of Group Insurance and SaaS platforms.

Since its launch in May 2021, Bharatsure has formed partnerships with over 500 organisations, positively impacting more than 150,000 lives through its group benefits platform. The company aims to secure coverage for 1 Crore Indians in the next two years, building on its previous funding success and recognition as one of the country's top six startups on CNBC TV-18's Leap to Unicorn show.