About GramCover
GramCover is a company based in Noida (India) founded in 2016 by Rishi Raj Vashisht, Swarup Beria, Nalin Rawal, and Jatin Singh.. GramCover has raised $10.08 million across 7 funding rounds from investors including Olo, EMVC and Inflexor. The company has 36 employees as of April 07, 2024. GramCover offers products and services including Motor Insurance, Crop Insurance, Livestock Insurance, and Reinsurance. GramCover operates in a competitive market with competitors including Paisa Bazaar, Apnapaisa, Capitaworld, FinanceBuddha and Rubique, among others.
- Headquarter Noida, India
- Employees 36 as on 07 Apr, 2024
- Founders Rishi Raj Vashisht, Swarup Beria, Nalin Rawal, Jatin Singh
- Stage Minicorn
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Sectors
AgricultureFinancial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Gramcover Insurance Brokers Private Limited
- Jurisdiction New Delhi, Delhi, India
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Annual Revenue
$4 M (USD)41.38as on Mar 31, 2023
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Net Profit
$-19.55 K (USD)60.18as on Mar 31, 2023
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EBITDA
$-37.29 K (USD)38.51as on Mar 31, 2023
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Total Equity Funding
$10.08 M (USD)
in 7 rounds
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Latest Funding Round
$719.47 K (USD), Series A
May 04, 2024
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Investors
Olo
& 8 more
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Employee Count
36
as on Apr 07, 2024
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Products & Services of GramCover
GramCover offers a comprehensive portfolio of products and services, including Motor Insurance, Crop Insurance, Livestock Insurance, and Reinsurance. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Provides coverage for vehicles against accidents and risks.
Offers protection for crops from weather and natural disasters.
Delivers coverage for livestock health and loss events.
Facilitates risk transfer for insurers in various sectors.
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Assistant Team
2 people
Product Management Team
1 people
Leadership Team
1 people
Head Team
1 people
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Funding Insights of GramCover
GramCover has successfully raised a total of $10.08M across 7 strategic funding rounds. The most recent funding activity was a Series A round of $719.47 thousand completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Series A — $719,466
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First Round
First Round
(21 Jan 2019)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2024 | Amount | Series A - GramCover | Valuation | Siana Capital | |
| Jan, 2023 | Amount | Series A - GramCover | Valuation | Siana Capital | |
| Oct, 2021 | Amount | Series A - GramCover | Valuation | Siana Capital , Inflexor |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in GramCover
GramCover has secured backing from 9 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Olo, EMVC and Inflexor. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture fund management focusing on deep tech and science investments in India.
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Founded Year | Domain | Location | |
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Venture capital firm investing in technology and deep tech startups with a focus on innovative solutions.
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Founded Year | Domain | Location | |
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Investments are made in digital society, education, and employability sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by GramCover
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - GramCover
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Gramcover Comparisons
Competitors of GramCover
GramCover operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Paisa Bazaar, Apnapaisa, Capitaworld, FinanceBuddha and Rubique, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online loan comparison platform
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| domain | founded_year | HQ Location |
Loans and credit cards are compared online in India.
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| domain | founded_year | HQ Location |
Loans are matched between borrowers and lenders using ML algorithms.
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| domain | founded_year | HQ Location |
Borrowers are connected to lenders for personal and business loans.
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| domain | founded_year | HQ Location |
A digital marketplace hosting a range of financial products.
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| domain | founded_year | HQ Location |
A digital insurance provider offering crop insurance solutions to farmers and cultivators
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Gramcover
Frequently Asked Questions about GramCover
When was GramCover founded?
GramCover was founded in 2016 and raised its 1st funding round 3 years after it was founded.
Where is GramCover located?
GramCover is headquartered in Noida, India. It is registered at Noida, Uttar Pradesh, India.
Who is the current CEO of GramCover?
Jatin Singh is the current CEO of GramCover. They have also founded this company.
Is GramCover a funded company?
GramCover is a funded company, having raised a total of $10.08M across 7 funding rounds to date. The company's 1st funding round was a Series A of $7M, raised on Jan 21, 2019.
How many employees does GramCover have?
As of Apr 07, 2024, the latest employee count at GramCover is 36.
What is the annual revenue of GramCover?
Annual revenue of GramCover is $4M as on Mar 31, 2023.
What does GramCover do?
GramCover was established in 2016 in Noida, India, as an online platform in the insurtech sector. Comparison services are provided for health, motor, crop, and livestock insurance. A risk analysis tool is included for crop insurance, supporting insurers and corporates in creating tailored products and managing underwriting processes. Operations emphasize data-driven solutions across these areas.
Who are the top competitors of GramCover?
GramCover's top competitors include Rubique, Paisa Bazaar and Kshema.
What products or services does GramCover offer?
GramCover offers Motor Insurance, Crop Insurance, Livestock Insurance, and Reinsurance.
Who are GramCover's investors?
GramCover has 9 investors. Key investors include Olo, EMVC, Inflexor, Siana Capital, and Omidyar Network India.
What is GramCover's valuation?
The valuation of GramCover is $18.16M as of Oct 2021.
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