Onsurity and Venttup Raise Funds to Grow
Two Indian startups, Onsurity and Venttup, have raised new funds. These funds will help them grow their businesses. Onsurity works in employee healthcare. Venttup is involved in Industries 5.0 manufacturing.
Onsurity, a healthcare platform for employees, raised $45 million in a Series B funding round. This round was led by Creaegis. Other investors like International Finance Corporation, Quona Capital, and Nexus Venture Partners also joined. This is the second part of their Series B funding. The first part was raised in October.
Onsurity will use this money to create new digital services. They will also improve financial solutions for small and medium-sized businesses (SMEs). Part of the money will go to improving their technology. This is important for their growth.
Onsurity was founded in 2020 by Yogesh Agarwal and Kulin Shah. They now work with over 8,000 companies. Onsurity provides healthcare to more than 1.5 million people. They cover 26 states and 3 union territories in India. With this funding, Onsurity plans to partner with 50,000 businesses. They aim to cover 5 million people by 2026.
Onsurity offers subscription-based healthcare services. These services are available for employees, contractors, and consultants. So far, Onsurity has raised over $66 million. This new funding will help them expand their insurance products. These products include cyber insurance and D&O liability insurance.
Creaegis, the lead investor, recently closed a $426 million fund. This fund focuses on supporting startups like Onsurity, which are driving innovation.
Venttup, an Industries 5.0 startup, has raised seed funding. The funds were provided by Unicorn India Ventures. Venttup will use the money to grow its business. They will also develop their Indigenisation Program Management platform. This platform helps improve India’s role in global supply chains.
Venttup was founded by Sandeep Nair, M. Wasim Ankli, and Joseph Panakkal. Venttup connects small and medium-sized manufacturers (MSMEs) through a single platform. The platform helps businesses produce locally. It also supports cloud manufacturing. Venttup focuses on industries like energy, electric vehicles (EVs), aerospace, and defense.
Since launching in 2023, Venttup has earned Rs 2 crore in annual recurring revenue (ARR). They also have Rs 20 crore in future orders. Venttup plans to add 50 new clients in the next year. They hope to grow their revenue five times in this period.
Venttup focuses on sustainable engineering solutions. They want to improve efficiency and bring new technology to the global manufacturing sector.