Cricketer Anil Kumble Backs Health Insurance Startup Onsurity

SUMMARY

As part of the deal, Onsurity has also onboarded Kumble as its strategic advisor

The development comes over a year after Onsurity secured $16 Mn in its Series A funding round

Onsurity claims to have onboarded over 300,000 members and over 2,500 companies to date

Health insurance startup Onsurity has raised undisclosed amount in a funding round led by Indian Cricketer Anil Kumble. As part of the deal, Kumble has also joined Onsurity as its strategic advisor.

“What I liked about Onsurity, who are in a way, democratising access to healthcare benefits through their tech-led platform and B2B associations. Through this collaboration, I am looking forward to raising awareness about the importance of healthcare and well being among employees and their families,” Anil Kumble said.

The development comes over a year after Onsurity secured $16 Mn in its Series A funding round from investors such as Quona Capital, Nexus Venture Partners, Whiteboard Capital.

Founded in 2020 by Yogesh Agarwal and Kulin Shah, Onsurity is a subscription-based employee health benefits provider. It offers a slew of employee health solutions, including doctor teleconsultations, mental wellness, online medicine delivery, health and accidental insurance, among others, to business organisations. Its membership starts from INR 145 per month.

Onsurity claims to have onboarded over 300K members and over 2,500 companies to date. Some of its customers include VISA, BSE, Jupiter Money, Terrapay, Infra.Market, Ferra Engineering and Clevertap.

It also counts Kunal Shah from CRED, Jitendra Gupta from Jupiter Money, Amit Lakhotia from Park+, Revant Bhate and Dhyanesh Shah from Mosaic Wellness, Gaurav Munjal from Unacademy, among its investors.

Other players in the health insurance space include Loop Health, Kenko Health, and Plum Insurance, among others.

As per an Inc42 report, the Indian healthtech industry is set to become a $21 Bn market by 2025. Meanwhile, the preventive healthcare market in the country is likely to grow into a $170 Bn space by 2025.

Since 2014, the Indian insurtech space has attracted $1.9 Bn in funding, of which, almost $1.3 Bn has been raised since 2020. Some of the key players in this space include — IPO bound Digit Insurance, Acko, PolicyBazaar and RenewBuy, among others.