Insurtech firm Bharatsure has secured ₹6 crore in funding from Inflection Point Ventures (IPV), along with Capital A and Atrium Angels. The company has also partnered with Battery Smart to provide insurance cover for battery-swapping station partners across India.
The funding is expected to support Bharatsure in scaling its infrastructure platform, which enables embedded group insurance solutions for businesses and partner networks.
Bharatsure, co-founded by Anuj Parekh and Sanil Basutkar, has reportedly covered over two lakh lives and processed more than 10,000 claims. The company says it has reached breakeven at contribution margin level 3 and is targeting EBITDA profitability by the end of the current fiscal year.
As part of its expansion strategy, Bharatsure has introduced a new insurance initiative with Battery Smart, a growing network of battery-swapping stations catering to electric two- and three-wheelers. The offering provides coverage against natural calamities, including fire, flood, and storms, and includes personal accident insurance for station partners.
“These station partners play a frontline role in advancing sustainable mobility, and we’re proud to design coverage that genuinely addresses their needs,” said Anuj Parekh, Co-Founder & CEO of Bharatsure.
Battery Smart, which operates over 1,500 swap stations across more than 50 cities, emphasized that the partnership is aimed at building resilience within its network.
“This insurance partnership is not just about protecting assets, it’s about empowering the individuals who are driving India’s EV revolution,” said Sumi Jain, AVP – Network Strategy and Operations at Battery Smart.
With the EV ecosystem expanding and informal gig-like roles becoming more common, such insurance arrangements mark a step toward structured financial protection for distributed workforces.
Mitesh Shah, Co-founder of IPV, noted, “As India moves towards a greener and sustainable future with the widespread adoption of EVs, and the infrastructure that supports it, it is time that we adapt our insurance frameworks to suit the changing needs.”
Bharatsure plans to build on this model to serve other ecosystem-driven industries with modular, partner-focused insurance products.
