Antler and Veda VC jointly led a pre-seed funding round in which the insurtech startup Covrzy raised Rs 3.2 crore.
In a press release, Covrzy stated that the company intends to use the funds to hire across tech, product, operations, business development, and marketing to drive its next phase of growth.
Ankit Kamra and Veera Thota founded Covrzy in 2023 with the goal of making business liability insurance for MSMEs and startups in India simple, individualized, and affordable. Its full-stack platform is intended to promote insurance penetration in startups and SMEs and to assist in product discovery.
Covrzy claims that insurance serves to protect businesses and advance economic development. Through its platform, businesses can quickly evaluate and acquire the crucial insurance products they require to safeguard their operations. It seeks to standardize various processes through technology for stakeholders like brokers and insurers. Next-generation pricing models, automated onboarding processes, and a customer service layer that spans the entire product lifecycle are the main areas of focus.
The Bengaluru-based startup asserts to have over 50 clients, including businesses like Karbon Cards and Volopay as well as alliances with prestigious insurers like ICICI Lombard.