Mumbai-based insurance platform Bimaplan on Tuesday said it raised $500,000 in a seed round of funding from Titan Capital and other marquee investors.
The funding also saw the participation of Y Combinator, Dream Incubator, RaSa Future Fund, Finsight Ventures, 2 a.m. Ventures, Rajesh Sawhney of GSF Accelerator, Anupam Mittal of Shaadi.com, Kunal Shah of Cred, Jitendra Gupta of Jupiter, Ramakant Sharma of Livspace, Ritesh Malik of Innov8, Roshan Abbas, Pallav Nadhani, Abhishek Rungta, Nisarg Shah, and Yash Jain, Nimesh Kampani, and Shanti Mohan of LetsVenture.
The startup will use the funds to build its team and to develop its product, which will help it achieve $1-million ARR in the next 12 months.
Founded by Vikul Goyal, Bimaplan claims to work with insurers to create over-the-counter, low-premium insurance products ($5-50 annually) relevant to the needs of low and middle-income populations.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India from March 14-17, 2021.
