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Insurtech leader Bharatsure has raised INR 6 crore in a funding round led by Inflection Point Ventures (IPV), along with Capital A and Atrium Angels. Operating under an Infrastructure-as-a-Service (IaaS) model, Bharatsure is driving digital transformation in the insurance sector by enabling seamless group and embedded insurance distribution.
The company has doubled its revenue in FY25 and is on track to achieve EBITDA profitability by year-end. It has set bold growth targets, aiming to reach INR 100 crore by FY28 and INR 1000 crore by FY34, highlighting its long-term vision and scalability.
Founded by Anuj Parekh (IIM-Bangalore) and Sanil Basutkar (ISB)—both Chartered Accountants with strong backgrounds in finance and fintech—Bharatsure is focused on enhancing insurance accessibility and innovation.
Coinciding with the funding, Bharatsure announced a strategic partnership with Battery Smart, India’s largest battery-swapping network for electric two- and three-wheelers. Under the initiative, over 1,500 station partners across 50+ cities will receive disaster insurance coverage, protecting them against events like floods, fires, earthquakes, and storms, along with personal accident cover.
Mitesh Shah, Co-founder of IPV, stated, “As India moves toward a greener future, insurance frameworks must evolve to match the changing landscape. Bharatsure is offering a forward-looking solution that ensures financial protection and social responsibility.”
Sumi Jain, AVP of Network Strategy at Battery Smart, added, “Our station partners are the backbone of the EV ecosystem. This insurance partnership not only protects their assets but empowers them as key drivers of India's electric mobility revolution.”
With over 70,000 drivers relying on its services, Battery Smart’s enhanced safety infrastructure now includes this insurance scheme alongside 24x7 support, in-app issue reporting, and mandatory onboarding training, further strengthening its support for India’s fast-growing EV sector.
