VC Fund Investments
Rural insurtech startup GramCover raises $7-M led by Siana Capital, Inflexor Ventures
Noida-based Insurtech startup GramCover has raised USD 7 million in a Series A round co-led by Siana Capital and Inflexor Ventures. The fundraise also saw the participation of Stride Ventures along with existing backers Omidyar Network India, Flourish Ventures and Emphasis Ventures (EMVC). Unitus Capital acted as the exclusive financial advisor to the company on the transaction. GramCover is focused on rural India facilitating insurance policy purchases across products like crop, motor, livestock, and health insurance. The new capital will be used to strengthen the technology and product offerings, scale up the business and support functions, expand its point of sale network, tech, and to strengthen operation teams across geographies.
From the Venture Intelligence PE-VC Deal Database: Between Nov-2016 and Aug-2021, Gramcover had raised over USD 2 M from Flourish Ventures, Emphasis Ventures, Omnivore Partners, Omidyar Network and Stride Ventures. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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