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The Silicon Review Asia

India-based Insurance Startup Loop $25M in Series B

India-based Insurance Startup Loop $25M in Series B

The round was co-led by General Catalyst and Elevation Capital

Pune, India-based Loop has raised $25 million in its Series B round. This round was co-led by General Catalyst and Elevation Capital. Amongst the participants were Vinod Khosla and Khosla Ventures, as well as a new investor, Optum Ventures. Existing investor Sierra Ventures also participated.

Thus far, the healthcare and insurance startup has raised $40 million in total funding. Loop has experienced significant growth in FY 2021-22, growing at a rate of 30% month-on-month. The company has seen its revenue grow 5x from the previous year.

Mayank Kale, Co-founder & CEO, Loop, said, "When we started Loop, it was to change how the healthcare system worked. We wanted it to be more preventive than reactive and bring insurers and doctors on the same side for once, so that we create a health assurance model that is incentivized to keep people healthy. Through our journey, we've also been able to bring back the concept of family doctors to India. This level of primary care helps people live a healthier life and catch diseases early."

Today, Loop provides health insurance and benefits to more than 130,000 members across 300+ companies in India. Currently, the company provides health insurance plans from prominent insurers to companies. They are the only insurance broker in India with an in-house medical team. Loop's headcount grew from 25 to over 250 over the last year.

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