About i3systems
i3systems is a company based in Mumbai (India) founded in 2016 by Varzavand Batliwala. It operates as a AI-as-a-Service, and HealthTech. i3systems has raised $3.97 million across 3 funding rounds from investors including Alok Agarwal, Zhooben Bhiwandiwala and Capria Ventures. i3systems offers products and services including Claims Processing Solution and Automated Underwriting. i3systems operates in a competitive market with competitors including Perfios, ABI Health, Simple, Osigu and Healspan, among others.
- Headquarter Mumbai, India
- Founders Varzavand Batliwala
- Stage Minicorn
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Sectors
Financial ServicesTechnology
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Email
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Phone
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Website
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Social
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- Legal Name Intelligent Industrial Internet Systems Pvt Ltd
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$741.91 K (USD)20.87as on Mar 31, 2022
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Net Profit
$-563.86 K (USD)-38.38as on Mar 31, 2022
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EBITDA
$-565.99 K (USD)-36.99as on Mar 31, 2022
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Total Equity Funding
$3.97 M (USD)
in 3 rounds
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Latest Funding Round
$1.5 M (USD), Seed
Sep 10, 2020
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Investors
Capria Ventures
& 29 more
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Employee Count
Employee Count
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Products & Services of i3systems
i3systems offers a comprehensive portfolio of products and services, including Claims Processing Solution and Automated Underwriting. 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.
Claims are processed using AI for faster settlements.
Underwriting is automated for financial and medical assessments.
Funding Insights of i3systems
i3systems has successfully raised a total of $3.97M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $1.5 million completed in September 2020. 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 3
- Last Round Seed — $1.5M
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First Round
First Round
(23 Jan 2017)
- Investors Count 30
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2020 | Amount | Seed - i3systems | Valuation | Unitus Ventures | |
| Nov, 2019 | Amount | Seed - i3systems | Valuation | Zhooben Bhiwandiwala , Capria | |
| Jan, 2017 | Amount | Seed - i3systems | Valuation | Capria , Bahram Vakil |
| 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 i3systems
i3systems has secured backing from 30 investors, including angel and venture fund investors. Prominent investors backing the company include Alok Agarwal, Zhooben Bhiwandiwala and Capria Ventures. 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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Supporting startups with India scale and global potential through venture advisory and partnerships.
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Founded Year | Domain | Location | |
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Venture capital firm investing in applied generative AI
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Founded Year | Domain | Location | |
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AA
Alok Agarwal |
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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 i3systems
| 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 - i3systems
| 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 |
I3systems Comparisons
Competitors of i3systems
i3systems 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 Perfios, ABI Health, Simple, Osigu and Healspan, 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 |
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| domain | founded_year | HQ Location |
Provides financial technology solutions for data analysis and verification globally.
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| domain | founded_year | HQ Location |
AI-driven solutions for healthcare operations are provided.
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| domain | founded_year | HQ Location |
Simple is recognized as a weight loss and health coaching app.
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| domain | founded_year | HQ Location |
Online claims processing is facilitated for the insurance industry.
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| domain | founded_year | HQ Location |
Insurance policies and claims are managed via an automated platform.
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| domain | founded_year | HQ Location |
AI-based health plan analytics solutions for health insurers
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 I3systems
Frequently Asked Questions about i3systems
When was i3systems founded?
i3systems was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is i3systems located?
i3systems is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Is i3systems a funded company?
i3systems is a funded company, having raised a total of $3.97M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1M, raised on Jan 23, 2017.
What is the annual revenue of i3systems?
Annual revenue of i3systems is $741.91K as on Mar 31, 2022.
What does i3systems do?
Claims processing is streamlined by i3systems through an exclusive tech stack that integrates RPA, IDP, and AI. Operations are focused on health and life insurance sectors, serving premium private insurance customers. Solutions are provided for automated financial and medical underwriting, claims adjudication, and data standardization. Partnerships with leading insurers enable processing across a vast network of hospitals and diagnostic centers. Customer experience is enhanced while payment leakages are prevented through innovative digital tools and customized algorithms.
Who are the top competitors of i3systems?
i3systems's top competitors include Perfios, ABI Health and Healspan.
What products or services does i3systems offer?
i3systems offers Claims Processing Solution and Automated Underwriting.
Who are i3systems's investors?
i3systems has 30 investors. Key investors include Alok Agarwal, Zhooben Bhiwandiwala, Capria Ventures, Capria, and Preety Singh.
What is i3systems's valuation?
The valuation of i3systems is $9.36M as of Nov 2019.
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