Inflection Point Ventures (IPV) and additional investors, such as Capital A and Atrium Angels, have contributed INR 6 crores to Bharatsure.
Bharatsure is driving change in India’s insurtech sector, expanding insurance penetration and health security while opening up a huge market. Bharatsure, an Infra-as-a-Service (IaaS) insurtech, provides ecosystem partners with integrated and group insurance distribution solutions that are easy to use.
Bharatsure is steadily moving toward EBITDA profitability by the end of this year after doubling its revenues in FY25 and breaking even at CM3.
In order to demonstrate its audacious vision and long-term market scalability, Bharatsure has established ambitious revenue objectives, aiming for INR 100 Cr by FY28 and INR 1000 Cr by FY34. The company has a defined growth trajectory.
Bharatsure was co-founded by Anuj Parekh and Sanil Basutkar. Sanil, a CA and ISB alumnus, uses his fintech experience to propel product creation and distribution, while Anuj, a CA and IIM-Bangalore alumnus, has extensive experience in finance and expanding companies.
Bharatsure launched a new partnership with Battery Smart, the biggest battery-swapping network for electric two- and three-wheelers in India, to introduce natural calamity insurance only for its station partners at the same time as the fund-raise.
To protect people’s livelihoods, the program provides personal accident coverages in addition to protection against natural disasters like earthquakes, floods, fires, and storms.
The foundation of India’s expanding EV infrastructure is made up of Battery Smart’s station partners, which have more than 1,500 stations and 70,000+ drivers spread across more than 50 cities.
This insurance plan guarantees that partners have the resources necessary to weather unanticipated setbacks and keep driving the nation’s electric vehicle transition.
Leadership Comments
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 farsight offers 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.”
“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.”
Battery swapping stations are becoming an increasingly important component of the ecosystem as EV adoption in India accelerates, especially among two- and three-wheelers.
This insurance program enhances Battery Smart’s current safety structure, which consists of a round-the-clock support helpline, in-app issue reporting, required onboarding training, and continuous awareness campaigns, to increase safety for its partners.
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