BimaKavach raises $2 Mn in seed round led by WaterBridge

Indore-based BimaKavach, a business insurtech startup, has raised $2 million in seed  round led by WaterBridge Ventures. Blume Ventures, Arali Ventures and Eximius Ventures also participate in it.

The  proceeds will be used for designing new-age business risk covers, investing in its proprietary risk  management technology and scaling business and teams, the company said in a statement.

Led by Tejas Jain, BimaKavach offers a variety of insurance product suggestions such as fidelity insurance,  cyber risk insurance, directors & officers insurance, errors & omissions insurance, general liability insurance,  and product liability insurance.

According to BimaKavach, it recommends insurance products by answering 6 simple questions to cover the custom  needs of businesses depending upon its nature of risks and size. The company’s early adopters include CleverTap, CoinDCX, FinBox and Rama  Phosphates, Flexituff Ventures, and Commercial Syn Bags.