Bharatsure, an Insurtech startup based in India, has secured Rs 6 crore in fresh funding from Inflection Point Ventures (IPV), along with Capital A and Atrium Angels. The new investment aims to help Bharatsure enhance its offerings and scale its modular insurance solutions across diverse sectors.
Co-founded by Anuj Parekh and Sanil Basutkar, Bharatsure uses an Infrastructure-as-a-Service (IaaS) platform to enable SMEs and large institutions to deliver customizable insurance products. With this partner-first model, the company integrates insurance directly into business processes, offering group covers, employee benefits, and wellness programs.
Partners with Battery Smart
Alongside the funding, Bharatsure has announced a partnership with Battery Smart, a leading battery-swapping network for electric two- and three-wheelers. Through this collaboration, Bharatsure will introduce natural calamity insurance exclusively for Battery Smart’s station partners, covering risks from floods, earthquakes, fires, and storms, as well as providing personal accident protection.
Sumi Jain, AVP – Network Strategy and Operations at Battery Smart, explained, “This partnership is about more than protecting assets. It’s about empowering the people driving India’s EV growth and giving them peace of mind.”
Targets Strong Growth
Bharatsure reports that it has doubled its revenue in FY25 and reached breakeven at CM3 level. The company aims for EBITDA profitability by year-end, while setting ambitious revenue targets of Rs 100 crore by FY28 and Rs 1000 crore by FY34.
Commenting on the partnership and the funding, Mitesh Shah, Co-founder of IPV, said, “As India adopts EVs and related infrastructure, insurance models must evolve. Bharatsure’s forward-looking approach offers financial safety and peace of mind in unpredictable times.”
What is IaaS
IaaS, or Infrastructure as a Service, is a cloud-based model where businesses can use computing infrastructure over the internet without owning physical servers or hardware. In the insurance industry, companies like Bharatsure use IaaS to provide customizable, scalable insurance solutions that can be quickly deployed and integrated into partner platforms.
With fresh funding and its partnership with Battery Smart, Bharatsure is strengthening its position in India’s fast-growing Insurtech space. By blending technology, partnerships, and an IaaS-driven approach, the Bharatsure insurance platform aims to make protection more accessible, relevant, and impactful for businesses and individuals alike.
