Bharatsure Raises Rs. 6 Crore and Partners with Battery Smart to Launch EV Station Insurance

Bharatsure, an insurtech company offering Infrastructure-as-a-Service (IaaS) solutions, has raised Rs. 6 crore in funding from Inflection Point Ventures (IPV), Capital A, and Atrium Angels. The funds will be used to scale Bharatsure’s insurance infrastructure, strengthen its technology platform, expand marketing efforts, grow its team, and support working capital requirements.

Founded by Anuj Parekh and Sanil Basutkar, Bharatsure helps businesses and their users access insurance with ease. The company offers modular insurance distribution solutions to organisations across sectors and sizes. The platform operates through a partner-first model that embeds protection into business ecosystems, helping insurance distributors and institutions offer group insurance covers, employee benefits, and wellness solutions.

Since its inception, Bharatsure has covered over 200,000 lives and processed more than 10,000 claims. It has doubled its revenue in FY25, achieved break-even at CM3, and is aiming for EBITDA profitability by the end of the year. The company has set revenue targets of Rs. 100 crore by FY28 and Rs. 1000 crore by FY34. Its Google Rating of 4.9/5.0 reflects the brand’s customer experience focus.

Coinciding with the funding round, Bharatsure has announced a partnership with Battery Smart, India’s largest battery-swapping network for electric two- and three-wheelers. The partnership introduces a natural calamity insurance cover for Battery Smart’s station partners, protecting them against events such as fires, floods, earthquakes, and storms. The policy also includes personal accident coverage.

Battery Smart operates more than 1,500 stations across 50 cities, serving over 70,000 drivers. With this partnership, Bharatsure aims to support the individuals running these stations by offering protection against disruptions. The initiative complements Battery Smart’s existing safety framework, which includes onboarding training, in-app issue reporting, a 24x7 support helpline, and awareness campaigns.

As India continues to expand its electric mobility infrastructure, especially in the two- and three-wheeler segments, battery swapping stations have become a key component of this transition. Bharatsure’s insurance programme is intended to support this shift by addressing coverage gaps for partner-led infrastructure.