Bharatsure, a prominent Indian insurtech firm providing Infrastructure as a Service (IaaS) solutions, has raised ₹6 crore from investors including Inflection Point Ventures (IPV), Capital A and Atrium Angels. Bharatsure is reshaping India’s insurance technology sector by expanding access to insurance while supporting health security. Through its IaaS platform, the company offers partners streamlined group and embedded insurance solutions that integrate easily into various ecosystems.
The company doubled its revenue in fiscal year 2025 and reached break-even at contribution margin 3 (CM3), moving steadily toward profitability by year-end. Bharatsure aims to grow revenue to ₹100 crore by FY28 and ₹1,000 crore by FY34, signaling a strong growth outlook and scalable business model. Co-founders Anuj Parekh, a Chartered Accountant and IIM Bangalore alumnus with expertise in finance and scaling businesses, and Sanil Basutkar, a CA and ISB alumnus with a fintech background, lead Bharatsure’s innovation and distribution strategies.
Alongside the funding announcement, Bharatsure unveiled a partnership with Battery Smart, India’s largest battery swapping network for electric two- and three-wheelers. This collaboration launches natural disaster insurance tailored for Battery Smart’s station partners, covering risks from fires, floods, earthquakes, storms, and providing personal accident protection.
Mitesh Shah, Co-founder of IPV, emphasized the importance of adapting insurance to India’s green transition, noting Bharatsure’s forward-looking approach offers essential financial security in uncertain times. Anuj Parekh, Bharatsure’s CEO, highlighted the vital role of station partners in driving sustainable mobility and expressed confidence that the new funding will accelerate infrastructure development.
Battery Smart operates over 1,500 stations with more than 70,000 drivers in 50+ cities, making their partners crucial to the country’s EV infrastructure. The insurance coverage is designed to help these partners manage unexpected challenges and continue supporting India’s shift to electric vehicles.
Sumi Jain, AVP of Network Strategy and Operations at Battery Smart, stated that the partnership strengthens not just asset protection but also empowers individuals who are key to the EV movement. This insurance complements Battery Smart’s existing safety measures such as 24/7 helplines, in-app reporting, training, and awareness programs, enhancing overall partner security as EV adoption grows.
ChatGPT said:
Bharatsure is a prominent Insurtech company revolutionizing access to insurance for businesses and their users across India. Through its Infrastructure-as-a-Service (IaaS) platform, the company enables organizations—from small enterprises to large institutions—to offer flexible, scalable insurance solutions that are simple to integrate. With a strong focus on partnerships, Bharatsure embeds insurance seamlessly within business ecosystems, empowering distributors and enterprises to provide group health coverage, employee benefits, and wellness offerings more effectively.
Inflection Point Ventures (IPV) is a leading angel investment platform comprising over 24,000 CXOs, high-net-worth individuals (HNIs), and professionals who collectively back early-stage startups. IPV supports emerging entrepreneurs by offering not just financial investment but also strategic guidance and access to a broad investor network.
Expanding its commitment to growth-stage ventures, IPV has launched Physis Capital, a $50 million Category II Alternative Investment Fund (AIF). The fund focuses on investing in startups from Pre-Series A to Series B stages, targeting scalable, high-potential businesses across sectors.
To date, Physis Capital has made investments in six startups, with additional deals currently in advanced stages. The fund reflects IPV’s broader mission to fuel innovation and scale by bridging capital with deep industry expertise. Battery Smart places a strong emphasis on driver and station partner safety. All new drivers go through a mandatory safety training module upon onboarding, and the company conducts ongoing educational campaigns throughout the year.
Having recently celebrated its five-year anniversary, Battery Smart now operates over 1,500 swap stations across more than 50 cities in India, serving over 70,000 drivers. The company remains dedicated to making electric mobility both affordable and accessible to all.
Founded in 2019 by IIT-Kanpur alumni Pulkit Khurana and Siddharth Sikka, Battery Smart is India’s largest and fastest-growing battery-swapping network for electric two- and three-wheelers. With over 75 million battery swaps completed, the company continues its mission to simplify and promote EV adoption across the country.
