Zopper Secures $25M to Revolutionize Insurtech with AI and Machine Learning

Insurtech platform Zopper raised $25 million in Series D funding, co-led by Elevation Capital and Dharana Capital. The funds will enhance their digital technology infrastructure, insurance distribution, and post-sales servicing capabilities. Zopper aims to transform India's insurtech ecosystem with advanced AI and personalized insurance products.

Zopper, an insurtech platform, announced on Thursday that it has successfully raised $25 million in a Series D funding round. Leading the round were Elevation Capital and Dharana Capital, with participation from existing investors, including Blume Ventures, Creaegis, Bessemer Venture Partners, and ICICI Venture.

The newly acquired funds are earmarked for bolstering Zopper's digital technology infrastructure, with a focus on enhancing its insurance distribution platform. Investments will also be made in strengthening the company's data science, engineering, artificial intelligence, and machine learning capabilities.

Zopper is notably recognized as the sole insurtech firm working directly with insurance providers to create personalized, bite-sized insurance products for distribution partners. Currently, it collaborates with 40 insurance companies and over 2,500 ecosystem players, leveraging more than 1,000 APIs to transform the insurtech landscape in India.

(With inputs from agencies.)