Startup news and updates: Daily roundup (January 22, 2024)

Funding news

Capital-A leads $1M pre-Series A round for Bharatsure

Insuretech platform Bharatsure raised $1 million in a pre-Series A funding round led by Capital-A.

"We at Capital-A see immense potential in the Indian insurtech landscape. With insurance penetration at just 4.2%, technology can disrupt this sector," Capital-A said in a statement.

It added that while challenges like complex policies and outdated channels persist, policy reforms and expanded distribution have set the stage for growth. The employee benefits segment will quadruple over the next decade—showcasing a chance to innovate, it said.

Bharatsure is a full-stack employee-benefits-as-a-service platform, providing a range of health, accident, and group term life insurance products, along with technology infrastructure and operational support for intermediaries. Since 2021, it has partnered with 500+ organisations, reaching 150,000+ lives.

Kenko Life raises angel round from R Raghunathan of Hitachi Payment Services

Bengaluru-based meal subscription service Kenko Life raised an angel round from R Raghunathan, Co-founder of Prizm Payment Services (now known as Hitachi Payment Services) and OPC Asset Solutions.

“The Kenko Life envisions launching an app, securing funds, and expanding to Gurgaon and Hyderabad, leveraging our existing client base and local support. We currently serve around 200-plus meals a day across 100 pin codes in the city. Plans also include establishing healthy cafes in two upcoming fitness clubs and some corporate establishments,” Founder Neeraj Kumar said.

Kenko sells personalised, gourmet meal plans tailored to individual dietary preferences and health objectives, including carb-conscious, diabetes-friendly, vegetarian, non-vegetarian, multi-cuisine, and paleo plans, with durations starting from one week up to a month.

Currently available only in Bengaluru, one can opt for lunch, dinner, or both, from a variety of 100 meal options from different cuisines.

(This article will be updated with the latest news throughout the day.)