Health insurance co Loop Health raises $12-M from Elevation Capital, others

Loop Health, a Pune-based health insurance startup, has raised USD 12 million in Series A round of funding co-led by Elevation Capital and General Catalyst Partners. The round also saw participation of Khosla Ventures, YC Continuity Fund and Tribe Capital. Angel investors including Amit Kumar Agarwal of NoBroker, Ramakant Sharma of Livspace, Vidit Aatrey and Sanjeev Barnwal of Meesho, Eren Bali of Carbon Health and Udemy, Zach Sims of Codeacademy, and Kate Rider of Maven Clinic participated. Loop will use the funds to scale the business and focus on product development. Founded in 2018, Loop Health differentiates itself by bundling group insurance plans from prominent insurers with a virtual primary care experience through an in-house medical team and a network of service providers. Loop Health claims to have insured more than 50,000 users across 150 companies in the last twelve months.