Zopper, a Noida, India-based insurance technology company, has raised $25 million in Series D funding.
Investors
The round was led by Elevation Capital and Dharana Capital, with participation from existing investor Blume Ventures, as well as backing from Creaegis, Bessemer Venture Partners, and ICICI Venture.
Elevation Capital is a venture capital firm founded in 2011 and based in Gurugram, Haryana, India. The firm invests in seed-stage, early-stage, and later-stage companies globally, with a focus on consumers, enterprises, logistics, and B2B sectors.
Dharana Capital, founded in 2022, is a venture capital firm based in Bengaluru, India, with an additional office in Dubai. The firm invests in late-stage companies in the software and information technology sectors, with a focus on the Indian market.
Zopper Use of Funds
The company will use the funding to enhance its digital infrastructure, strengthen its insurance distribution platform, invest in AI/ML and data capabilities, expand bancassurance solutions, and improve post-sales servicing for device and appliance protection.
About Zopper
Founded in 2011 by Surjendu Kuila and Mayank Gupta, Zopper provides insurance solutions through its SaaS platform. The company partners with insurance providers to offer customized insurance products, utilizing over 1,000 APIs. Zopper focuses on automating and streamlining insurance distribution in India, working with 40 insurance companies and 2,500 ecosystem players.
Funding Details
Company: Solvy Tech Solutions Private Limited
Raised: $25.0M
Round: Series D
Funding Date: November 2024
Lead Investors: Elevation Capital, Dharana Capital
Additional Investors: Blume Ventures, Creaegis, Bessemer Venture Partners, ICICI Venture
Company Website: https://www.zopper.com/
Software Category: Insurance Solutions
Source: https://www.business-standard.com/companies/start-ups/insurtech-firm-zopper-raises-25-mn-in-to-ramp-up-its-digital-infra-124112100542_1.html