Insurtech startup GramCover on Wednesday announced that it has raised $7 million in a Series A round co-led by Siana Capital and Inflexor Ventures in a Series A round.
The five-year-old startup specialises as an insurtech marketplace focused on rural India facilitating policy purchases across products like crop, motor, livestock, and health insurance. The firm said that it has sold insurance covers worth Rs 110 crore in premiums.
“We, at GramCover, will be strengthened by their deep-tech domain expertise and their startup experience as we work towards building a growth and profitability focussed rural insurtech organization,” Dhyanesh Bhatt, co-founder and group CEO, said in a statement.
The fresh capital will be used to strengthen the technology and product offerings and also scale up the business and support functions.
“We are pleased to co-lead the investment and partner with a stellar team of Jatin and Dhyanesh, with demonstrated capabilities of execution. We believe GramCover will play a pivotal role in radically transforming the insurance landscape of Bharat,” said Pratip Mazumdar, partner at Inflexor Ventures.
Early-stage tech-focused venture capital fund Inflexor Ventures has raised Rs 600 crore towards the final close of its new fund, driven by oversubscription from homegrown institutional investors.
The total fundraise has exceeded its initial target of Rs 500 crore..
As the pandemic began to unfold last year, a global VC fund famously wrote a letter to its founders and CEOs titled “Coronavirus: The Black Swan of 2020” warning them of potential drops in business activity, and the ensuing need to hunker down and conserve cash.
Across the industry, it was predicted that Covid-19 would be a great reset for many businesses. While this was true to a great extent, not many expected that 2020 would turn out to be one of the biggest years ever in venture capital…
Logistics tech startup Kale Logistics has raised $5 million in its Series A funding round led by Inflexor Ventures. The company’s other existing investors also participated in the round, it said in a release.
The startup aims to utilise the funds towards product enhancement and global business growth, by deploying its solutions at additional overseas airports, ports and enterprise cargo handling customers, the release said.
Kale Logistics aims to reduce complexities involved in ..
Gone are the days when smart and driven young Indians building important technology were at the mercy of slow processes of government funding through grants and schemes.
At Inflexor Ventures, we are doing our bit to push the envelope of indigenous technology research and their commercial implementations further.
Launched in December 2020, Vitra.ai is an AI-based video translation platform, which helps customers translate videos to 50+ languages with just one click. It can translate content 10X faster and 80 percent cheaper than most existing manual translation solutions.
Inflexor Ventures, a deep-tech VC, has invested an undisclosed amount in content translation platform, Vitra.ai, as a part of its DeepTech Fellowship Programme with Venture Capital firm 100X.VC.
With its maiden fund, which had a corpus of INR 75 crore (USD 10 million), Inflexor Ventures backed 12 companies that use artificial intelligence, virtual reality, big data, and internet of things to accomplish things like reducing air pollutants, increasing customer engagement, developing orbital launch vehicles, and providing immersive education for children.
From its second fund, Inflexor Ventures plans to invest in 20 to 25 startups in their pre-Series A to Series B phases.
PlayShifu has raised a Series B funding of $17 Mn, led by Inventus Capital India. Inﬂexor Ventures also participated in the round, along with existing investors Chiratae Ventures and Bharat Innovation Fund. Prior to this, the company had raised $4.4 Mn in a mix of venture debt.
PlayShifu, which creates AR experiences as educational toys, almost doubled its user base from 250K (2019) to 600K (2020) in just a year. It also expanded its presence to 35 countries from 15 countries in the same time period, with the USA being its largest market.
In conversation with DQ Deep Tech, Jatin Desai talks about the pull of deep tech for Indian investors and founders, the sectors that will be disrupted and most importantly, the investment strategy.