Flashaid has raised $2.5 million in its pre-Series A funding round, while Boba Bhai has raised about $1.5 million in seed funding.
Piper Serica, SOSV lead funding in Flashaid
Healthcare and insurtech company Flashaid has raised $2.5 million in its pre-Series A funding round led by Piper Serica Angel Fund and global venture capital firm SOSV, per an announcement on Thursday.
Early-stage investors Z21 Ventures Fund and ZNL Growth Fund also participated in the financing, the startup said in a statement.
Flashaid plans to use the fresh funds for growth and to expand to six new cities.
Founded by Manoj Gupta and Gunjali Kothari, Flashaid is working on exclusive tie-ups with insurance companies to tailor-make products and partner with e-commerce platforms and brands to distribute insurance to their users. The company claims to offer a full-stack health solution with proprietary pre-underwritten products, open APIs, and embedded solutions.
It is also building an API-first health cover to make health insurance affordable and accessible to digital India. It is developing a distinctive channel for retail health plan distribution via a B2B2C platform, per the statement.
Boba Bhai snags funding from Titan, others
Bengaluru-based restaurant chain Boba Bhai has raised about $1.5 million (Rs12.5 crore) in its seed funding from investors led by Titan Capital and Global Growth Capital UK.
The round also saw participation from Marsshot VC (RazorPay founders fund), DEVC, Warm up Ventures, Asit Oberoi, 1947 Rise Fund by Shiva Singh Sangwan, Peercheque, Varun Alagh, Mandeep Sodhi, Prabhraj (Simba Beer), FinFirst, Arjun Vaidya, Neha Patil, Abhinav Sinha from Oyo, and other high-profile angel investors.
The startup will use the funding procees for hiring and expanding its product line and presence across India, it said in a statement.
Founded by Dhruv Kohli, Boba Bhai currently operates 25 outlets across cities like Bengaluru, Delhi, Gurugram, Hyderabad, and Chennai.