New Delhi, May 26 (PTI) Startup GramCover, which is making insurance products available in rural areas, on Tuesday said it has raised funds from investors like EMVC, Flourish, and Omidyar Network India. Existing investor Omnivore also participated in the pre-Series A funding round, the company said in a statement without disclosing the amount raised. GramCover is de-risking rural India by leveraging technology and its point of sale network to make insurance accessible for all. The company is creating an ecosystem for delivery of insurance products including crop, livestock, health, motor, life, and asset insurance that address the needs of rural areas, it said.
Noida-based GramCover was founded by Jatin Singh, who had also launched Skymet, a private weather company. GramCover is registered as a composite broker. Over 1.3 million farmers have purchased insurance through GramCover since inception, and the company brokered USD 10 million of insurance premiums in 2019-20, the statement said. PTI MJH ANU