Noida based local insurance company start up, Gramcover has raised $7 million in a Series A round of funding jointly led by Ciana Capital and Inflexor Ventures.
Stride Ventures He also participated in this round along with existing investors Omidyar Network India, Florish Ventures and Mphasis Ventures (EMVC).
“With this funding, the company Technology and product offering. GramCover will also enhance the availability of various insurance products and services in the GramCover partner application and expand its POS network, technology, sales and operations teams across multiple regions,” the statement said.
talk in Investment Dinesh Goyal, Partner, Siana Capital, said in VillageCover:
“With a solid end-to-end deep technology platform connected to a human-supported local agency network, we feel that Villagecover is well positioned to continue its high growth trajectory. In addition, our business model is profitable. It helps in achieving the twin objectives of sexual development and providing livelihood risk protection to the predominantly rural population. IndiaGoyal said.
Commenting on the funding, Pratip Majumdar, Partner, Inflexor Ventures, said: “
“We are delighted to be able to jointly lead the investment and partner with a strong team of Siddha Jatin and Dhyanesh. village cover Insurance India’s scenario,” he said.
In 2018, we started the journey by insuring 1000 farmers. In 2009, Gramcover provided insurance premiums of Rs 1.1 billion on products such as crops, automobiles, livestock and health, in association with over 1.7 million rural customers.
Dhyanesh Bhatt, Co-Founder and Group CEO, Gramcover, said of the funding: investor Like Sienna Capital and Inflexor. Villagecover is strengthened by their deep technical expertise and start-up experience as they work towards building a local insurance technology organization with a focus on growth and profitability. “
My vision of starting “Gramcover” was to provide a comprehensive coverage in the country of India. I believe that ‘protection of village, cow, crop and disease, is our responsibility’ (protection of village, cattle, car, crop, and DiseaseIt is our responsibility),” said Jatin Singh, founder and managing director of Gramcover.
Unitus Capital acted as the Company’s exclusive financial advisor to the transaction.
Sienna Capital and Inflexor Ventures first appeared on TechGraph after co-ledging a $7 million Series A round in rural insurtech startup Gramcover.
Sienna Capital and Inflexor Ventures co-lead $7 million Series A round in rural insurtech startup Gramcover
SourceLink Sienna Capital and Inflexor Ventures co-lead $7 million Series A round in rural insurtech startup Gramcover