VC Fund Investments
Insurtech startup Gramcover to raise Rs.7-Cr from Stride Ventures
Stride Ventures, via Stride Venture India Debt Fund I, has committed to invest INR 6.92 crore in Noida-based tech-enabled insurance marketplace Gramcover Technologies Pvt Ltd over two tranches. As part of the first tranche, Stride invested INR 3.41 crore through a combination of CCPS and NCDs. It will invest INR 3.51 crore in the second tranche through NCDs. GramCover focuses on the development and brokerage of rural insurance products to farmers.
From the Venture Intelligence PE Deal database: Between Nov 2016 and May 2020, Gramcover raised INR 15.3 crore from Flourish Ventures, Emphasis Ventures, Omnivore Partners and Omidyar Network. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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