Bharatsure, one of India’s leading Insurtech companies offering Infrastructure-as-a-Service (IaaS) solutions, has successfully raised ₹6 crore in a funding round led by Inflection Point Ventures (IPV), with participation from Capital A and Atrium Angels. The fresh capital will bolster the company’s mission to deepen insurance penetration and enhance financial security for underserved segments in the country.
Founded by Anuj Parekh and Sanil Basutkar, Bharatsure is pioneering group and embedded insurance distribution through its IaaS platform. The company has demonstrated strong financial traction, having doubled its revenue in FY25 and achieving breakeven at Contribution Margin 3 (CM3). With a sharp growth vision, Bharatsure aims to touch ₹100 crore in revenue by FY28 and ₹1000 crore by FY34.
Coinciding with the fundraise, Bharatsure has entered into a strategic partnership with Battery Smart, India’s largest battery-swapping network for electric two- and three-wheelers. The collaboration introduces a specially designed natural calamity insurance plan for Battery Smart’s station partners, covering incidents such as floods, fires, earthquakes, and storms, along with personal accident coverage.
Commenting on the development, Mitesh Shah, Co-founder of IPV, said, “As India moves towards a greener and sustainable future with widespread EV adoption, it’s imperative that our insurance ecosystem evolves as well. Bharatsure’s vision brings a layer of financial protection to those driving this transition.”
Bharatsure Co-founder and CEO Anuj Parekh added, “These station partners are the frontline enablers of India’s EV journey. We are proud to build insurance solutions that reflect their realities and needs. This funding allows us to further enhance our technological infrastructure and broaden our reach.”
Battery Smart currently operates over 1,500 stations serving more than 70,000 drivers across 50 cities. The insurance initiative aligns with the company’s robust safety measures, including a 24×7 support helpline, in-app issue resolution, onboarding training, and awareness campaigns.
“This partnership with Bharatsure is a crucial step in ensuring our partners’ well-being,” said Ms. Sumi Jain, AVP – Network Strategy and Operations at Battery Smart. “We’re not just protecting assets; we’re empowering the individuals who are shaping India’s clean mobility future.”
As EV adoption surges, especially among commercial two- and three-wheelers, such insurance collaborations signal a growing recognition of the social responsibility and innovation needed to support the evolving mobility ecosystem.
