Xceedance, others led $4.1 M Series A funding raised by insurtech firm Vitraya

Vitraya Technologies, a platform for healthcare claim settlement, has received $4.1 million in Series A investment from Xceedance and a group of investors.

The Vitraya Technologies platform, which was established in 2019 and is situated in Mohali, provides automated, real-time payouts and claims settlements between hospitals and healthcare providers, and insurers that supply health insurance products to individuals and companies.

The business also uses AI and blockchain technology to automate benefits administration for insurers, medical coding, and payment integrity.

For healthcare practitioners and insurance claim processors, automation guarantees simple claim paperwork and submission, decreased mistakes, document and information correctness, and minimal processing time.

A US-based company called Xceedance, which offers digital transformation solutions, technology, and analytical services, aids insurers in the introduction of new products, the use of intelligent technology, the use of sophisticated analytics, and the optimization of business processes.