Funding Alert
Insurtech Startup ClaimBuddy raised $3 Mn In Pre-Series
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ByStartupStory | March 1, 2022
Insurtech startup ClaimBuddy has raised $3 Mn (INR 21 Cr) in a Pre-Series A round of investment, co-led by Chiratae Ventures and Rebright Partners. Existing investors Titan Capital and Relentless Ventures also participated in the funding round. The 19 selected startups ranged from a slew of sectors ranging from consumer tech, SaaS, deeptech and healthtech. Add to that, ClaimBuddy is an insurtech startup that offers digital infrastructure to hospitals for their patients’ health insurance claims.
Founded in June 2020 by Khet Singh and Ajit Patel, the startup claims to be a one-stop solution for insurance claims’ processing by leveraging technology and strong operations.According to ClaimBuddy, it further offers tech and financing solutions to hospitals and doctors that improves their operational and financial efficiency by at least 30% with an improved patient experience. Meanwhile, many healthtech startups have received funding in the past few months with some becoming unicorns.
Gurugram-based Pristyn Care raised $96 Mn in its Series E round from Sequoia Capital, Tiger Global, Winter Capital, Eriq Capital, among others in December last year. Its valuation reached $1.4 Bn with the finding roundIn January this year, Mumbai-based AI-driven healthcare startup Heaps Health raised $7.45 Mn in its Series A round of funding. Further, another healthtech startup Proactive For Her raised $5.5 Mn in Series A funding on 16 February 2022. In the given pandemic situation, the healthtech market size in India is expected to reach $21.3 Bn by 2025 from $6.8 Bn in 2020, growing at a CAGR of 25.65%.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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