Nexus Ventures joins Indian healthtech startup’s $16m round

Onsurity, an India-based healthtech startup, has raised US$16 million in a series A round led by Quona Capital.

The round saw participation from existing investor Nexus Ventures, which has investments in firms such as Delhivery, Unacademy, and Zomato. Clover Healthcare founder Vivek Garipalli also took part in the round.

Photo credit: Onsurity

Founded in mid-2020, Onsurity aims to make it easier for startups and small and medium-sized businesses to provide healthcare benefits to their employees.

The healthtech firm offers subscription-based services for a monthly fee starting from 49 rupees (US$0.66). Its services also cover employees that don’t work full time, such as contractors, interns, and consultants. Its membership includes benefits like group health insurance, teleconsultations, and discounted medicines and checkups. The company claims its healthcare membership costs 40% less than other healthcare packages in the market.

Cred, Jupiter Money, Pantaloons, Zolo Stays, WebEngage, Whitehat Jr, and Park+, are among Onsurity’s top customers.

“With Onsurity, we have built a system from the ground up that will enable every organization – regardless of size – to have access to comprehensive yet affordable healthcare and health benefit options that can be selected, customized, and priced in as little as two minutes,” Onsurity founder and CEO Yogesh Agarwal said in a statement.