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The company has also received Rs 53.75 lakh in grants from SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras Research Park’s RTBI programme and Cummins CSR.
The association plans to expand India’s angel investor base from around 1 lakh currently to 1 million.
The startup will use the fresh capital for product development, AI and machine learning engineering, customer acquisition, go-to-market expansion, and working capital requirements.
The investment platform generated a combined internal rate of return (IRR) of 41% along with a 2.86x money multiple from the 16 exits in FY26.
The funding round also saw participation from existing investors Cogniphy, Inflection Point Ventures, and the IIM Lucknow Enterprise Incubation Centre.
The funding round saw participation from Venture Catalyst and SucSEED Indovation Fund.
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.
