Insurtech startup Bharatsure raises Rs 6 crore in funding, partners with Battery Smart

Bharatsure, an Insurtech startup offering Infrastructure as a Service (IaaS) solutions, has raised Rs 6 crore in funding from Gurugram-based Inflection Point Ventures (IPV) and other investors, including Capital A and Atrium Angels.

The startup's Infrastructure-as-a-Service (IaaS) platform enables organizations, ranging from SMEs to large institutions, to offer modular insurance solutions that are scalable, and easy to deploy. Powered by a partner-first distribution model, it embeds protection directly into business ecosystems, helping insurance distributors and institutions deliver impactful group covers, employee benefits, and wellness solutions.

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.

Apart from the funding, Bharatsure announced a new partnership with Battery Smart, a battery-swapping network for electric two- and three-wheelers, to launch natural calamity insurance exclusively for its station partners. The partnership will offer protection against events such as fires, floods, earthquakes, and storms alongside personal accident coverages to safeguard individual livelihoods, the release notes.

“Our station partners are at the heart of our operations,” said 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.”

Bharatsure claims to have doubled its revenues in FY25 breaking even at CM3 and is gradually progressing toward EBITDA profitability by the end of this year. The startup is now targeting Rs 100 crore by FY28 and Rs 1000 crore by FY34.

“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,” said Mitesh Shah, Co-founder, IPV.