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CoverSure raises $4M in Pre-series A funding round led by Enam Holdings

InsurTech Startup CoverSure on Monday said it raised $4 million in a pre-series A round, led by Enam Holdings. CoverSure plans to use the funds to build a consumer-centric insurance engagement platform. 

Enam Holdings’ investment is expected to enable CoverSure’s Indian expansion and growth.

CoverSure, founded in January 2023, operates a platform that handles all customer insurance needs. It offers a personalised, spam-free advisory service to existing policy holders as well as new to insurance. It offers personalised insurance portfolio, democratised risk management and family-centric insurance care to its users.

The company believes that the insurance industry is bound to see significant momentum in insurance adoption fueled by leniency in regulations. 

CirclePe closes $1M in pre-seed round led by OTP Ventures 

Property tech platform CirclePe on Monday raised close to $1 million in a pre-seed round led by OTP Ventures, along with participation from 1947 Rise, iSeed, IIT Delhi and Venture Catalyst. 

The round also saw participation from founders and CXOs from OfBusiness, BharatPe, Uni Cards and OYO. 

CirclePe is a fintech platform that caters to urban tenants, landlords and even co-living operators. Its unique “Smart Renting” solution allows credit-worthy tenants to opt for a Zero Security-Deposit move-in, and enjoy the luxury of paying only their monthly rent without any extra charges.

Bounce Infinity launches battery-swappable variant for  Infinity E1 scooter

EV Mobility startup Bounce Infinity on Monday announced the launch of a new battery-swappable variant of its popular Infinity E1 scooter called Bounce Infinity E1X. 

The model, which will be made available across the country from June 2024, can be used with major battery swapping networks in India and can also be customised to suit any new battery-swapping network. 

Infinity E1X will be priced at an introductory range of around Rs 55,000 to Rs 59,000 ex-showroom. It will significantly reduce the cost of acquisition and involves a very low running cost. It involves energy cost of just Rs 1 to Rs 1.5 per kilometre depending on utilisation and the swapping operator. 

Battery swapping feature allows users who travel to long distances daily to continue their journeys uninterrupted. Riders can now swap depleted batteries for charged ones at network stations, using the mobile app to locate nearest ones. It  does away with concerns related to battery warranty, replacement, and lifecycle management. 

Bounce launched Infinity E1X in two-speed variant battery swapping models which cater to different user needs: up to 55 kmph and 65 kmph.  The Bangalore-based company also said it is developing a faster, 92 kmph variant to meet the minimum speed requirements in certain export markets.

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(The copy will be updated with the latest news throughout the day)