Bharatsure, one of India’s leading insurtech companies offering Infrastructure as a Service (IaaS) solutions, has raised INR 6 crores from Inflection Point Ventures (IPV) and other investors, including Capital A and Atrium Angels.
Bharatsure is pioneering transformation in India’s insurtech landscape, unlocking vast market potential while advancing health security and insurance penetration. As an Infrastructure-as-a-Service (IaaS) Insurtech, Bharatsure empowers ecosystem partners with seamless group and embedded insurance distribution solutions.
Bharatsure has doubled its revenues in FY25, breaking even at CM3, and is gradually progressing toward EBITDA profitability by the end of this year. With a clear growth trajectory, Bharatsure has set ambitious revenue milestones, targeting INR 100 Cr by FY28 and INR 1000 Cr by FY34, reflecting its bold vision and long-term scalability in the market.
Anuj Parekh and Sanil Basutkar are the co-founders of Bharatsure. Anuj, a CA and IIM-Bangalore alumnus, brings deep expertise in finance and scaling ventures, while Sanil, a CA and an ISB alumnus, employs his fintech background to drive product innovation and distribution.
Coinciding with the fundraise, Bharatsure announced a new partnership with Battery Smart, India’s largest battery-swapping network for electric two- and three-wheelers, to launch natural calamity insurance exclusively for its station partners. The initiative offers protection against events such as fires, floods, earthquakes, and storms alongside personal accident coverages to safeguard individual livelihoods.
Mitesh Shah, Co-founder, IPV, says, “As India moves towards a greener and sustainable future with the widespread adoption of EVs and the infrastructure that supports it, it is time that we adapt our insurance frameworks to suit the changing needs.” “Bharatsure’s futuristic mindset and foresight offer financial protection and peace of mind in the face of unexpected events.” “In a world that doesn’t always go according to plan, insurance doesn’t just offer protection; it also carries the burden of social responsibility.”
Anuj Parekh, Co-Founder & CEO of Bharatsure, added: “These station partners play a frontline role in advancing sustainable mobility, and we’re proud to design coverage that genuinely addresses their needs.” “The funding allows us to further develop our infrastructure too.”
With over 1,500 stations and 70,000+ drivers across 50+ cities, Battery Smart’s station partners form the backbone of India’s growing EV infrastructure. This insurance plan ensures partners are equipped with financial protection to overcome unforeseen disruptions while continuing to power the country’s EV transition.
“Our station partners are at the heart of our operations,” said Ms Sumi Jain, AVP – Network Strategy and Operations, Battery Smart. “This insurance partnership is not just about protecting assets; it’s about empowering the individuals who are driving India’s EV revolution.” “Together with Bharatsure, we are fortifying the backbone of our network.”
As EV adoption picks up pace in India, particularly across two- and three-wheelers, battery swapping stations are emerging as a critical part of the ecosystem. To strengthen safety for its partners, this insurance initiative complements Battery Smart’s existing safety framework, which includes a 24×7 support helpline, in-app issue reporting, mandatory onboarding training and ongoing awareness campaigns.
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