Bharatsure, a technology-driven insurance company providing infrastructure-as-a-service. Services has raised  Rs 6 crore in a funding round led by Inflection Point Ventures (IPV).

The funding round also saw participation from Capital A and Atrium Angels.

The company plans to use the fresh capital to enhance its insurance technology platform and broaden its embedded insurance and group coverage services in India.

The Mumbai-based startup, founded by Anuj Parekh and Sanil Basutkar in 2021, functions as a technology infrastructure provider that allows companies, small and medium enterprises, and partner networks to integrate customizable insurance solutions seamlessly into their existing services.

The company generates income through multiple channels including insurance policy sales, commission earnings from premiums, and providing specialized insurance technology solutions to clients seeking comprehensive coverage and employee benefit programs.

The startup has presence across more than 1,500 locations, spanning 50 cities nationwide. It claims to have provided insurance coverage for over 200,000 individuals while processing 10,000 claims.

Recently, Bharatsure formed an alliance with Battery Smart, an electric vehicle battery exchange network, to introduce specialized natural disaster insurance coverage for their station operators.

Private funding in the insurtech sector is expected to cross $1 billion in the next 12 months after past few years of moderation, according to a report by Perfios and The Digital Fifth.

Earlier in March, Beams Fintech Fund led $70 million funding round in InsuranceDekho.

Other insurtech startpus that have raised funding include SecureNow, BimaKavach, and Pazcare.