Square Insurance, a nsurtech startup, raised $3 million in pre-Series A funding led by BizDateUp and Negen Capital. Yogesh Chaudhary, the founder of Warmup Ventures and owner of Jaipur Rugs, and Prashant Kothari, the owner of Jaipur Colour Stone, were also involved in the round.
The startup in Jaipur plans to use the money to improve the technology behind its operations, further cattle insurance, and expand its technological infrastructure. It will also put money into creating tailored microinsurance products with insurers and establishing business alliances with fintech and online retailers.
This funding represents a critical turning point in our mission to revolutionise the insurance industry through improved accessibility and state-of-the-art technology. Rakesh Kumar, the founder and managing director of Square Insurance, stated, “It enables us to not only improve and broaden our insurance offerings but also to reach underserved markets, particularly in rural areas where insurance plays a crucial role in securing futures.
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