VC Fund Investments
Insurtech startup Kenko Health raises $12-M led by Sequoia Capital India
Bengaluru-based insurtech startup Kenko Health has raised USD 12 million as part of its Series A round, led by Sequoia Capital India. Existing investors Beenext, Orios, 9Unicorns and Waveform also participated. The startup will use the funds to acquire customers, develop new products and strengthen its talent base. Kenko provides a subscription-based service that covers health care expenses across OPD and hospitalisation. As part of its OPD coverage, Kenko covers costs of doctor visits, medicine expenses, diagnostic tests, and more. These have been designed for middle income households in tier II cities, where health insurance coverage continues to be low. Kenko Health has over 50,000 users across India and is aiming to gain 250,000 new users by the end of March 2022. It has presence in 40 cities, including Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, Nagpur, Indore, and Lucknow.
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