VC Fund Investments
Insurtech co Vitraya raises Rs.34-Cr led by StartupXseed Ventures
Mohali-headquartered insuretech firm Vitraya Technologies has attracted USD 4.1 million (INR 34 crore) in a pre-Series A round led by StartupXseed Ventures. The company would issue 539 pre-Series A compulsory convertible preference shares at INR 93,981 each and 1,854 A-2 CCPS at INR 1,56,634 per share to raise INR 34 crore. StartupXseed has invested INR 11.7 crore while J&A Partners and Cactus Partners have injected INR 6 crore and INR 5 crore, respectively. Season Two Ventures, Xceedance Consulting, and angel investors Eklavya Juneja and Sheeta Arora collectively contributed INR 11.3 crore. Founded in 2019 by a former chief operating officer of MobiKwik, Mrinal Sinha, Vitraya provides a techstack that automates health insurance claims (pay-outs and settlements) between healthcare providers and insurers, besides providing underwriting and solvency analytics services through data dashboards. Vitraya counts Star Health, Niva Bupa, Ayushman Bharat, and Care Insurance among its clients.
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