Funding news
Square Insurance secures Rs 25 Cr in seed funding
Insurtech startup Square Insurance secured $3 million in seed funding led by Negen Capital. The round also included Yogesh Chaudhary (Founder of Warmup Ventures and Owner of Jaipur Rugs), and Prashant Kothari (Owner of Jaipur Color Stone).
The Jaipur startup will use the funds to advance its technology infrastructure, streamline operations, and advance cattle insurance technology. It will also invest in developing customised micro-insurance products in collaboration with insurers and forming strategic partnerships with fintech and ecommerce companies.
“This funding marks a significant milestone in our journey to transform the insurance landscape with cutting-edge technology and enhanced accessibility. It empowers us to not only refine and expand our insurance offerings but also to reach underserved markets, especially in rural areas where insurance plays a vital role in securing futures” said Rakesh Kumar, Founder and Managing Director of Square Insurance
Hippo Innovations bags Rs 3.3 Cr from Finvolve and India Accelerator
Ecommerce solutions provider Hippo Innovations raised Rs 3.3 crore from Finvolve and India Accelerator as part of its ongoing pre-Series A round.
The company will use the newly raised funds to automate workflows using AI, strengthen its enterprise offerings, and invest in marketing efforts.
“Participating in the ongoing Pre-Series A round of Hippo Innovations showcases our optimism about the transformative potential of its solutions. We are confident about the impact the company will have on India’s soaring ecommerce ecosystem”, said Ashish Bhatia, Co-founder of Finvolve
Bloq Quantum raises Rs 1.3cr in pre-seed round led by Inflection Point Ventures
Bloq Quantum, a Kerala-based AI quantum software startup, raised Rs 1.3 crore in pre-seed funding led by Inflection Point Ventures. It will use the capital to develop its product line and expand its team, drive innovation in its quantum algorithms, improve platform functionalities, and expedite growth.
“Understanding quantum technology and its intricate algorithms is daunting and applying it effectively in business is even more challenging. By bringing a platform where beginners and experts alike can work on quantum algorithms with a user-friendly low-code interface, Bloq Quantum’s USP brings satisfaction and business to its customers,” said Mitesh Shah, Co-Founder of Inflection Point Ventures.
Other news
Metadome.ai co-founder and CRO Prashant Sinha exits the company
Metadome.ai said its co-founder and Chief Revenue Officer, Prashant Sinha, will exit the company after an almost six-year stint at the startup.
During his tenure, Sinha was crucial in securing partnerships with brands such as TATA Motors, Hero MotoCorp, and Royal Enfield.
“As I embark on my next venture, I am excited to continue exploring how cutting-edge technologies can solve complex enterprise challenges globally. The automotive sector is ripe for disruption, and I believe there’s immense potential in leveraging AI, XR, and other emerging technologies to enhance intelligence and create unparalleled customer experiences,” Sinha said.
The startup uses virtual and augmented reality, AI, and GenAI to help brands with their online buying experiences and more.
(This article will be updated with the latest news throughout the day.)
