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Billion Hearts has Raised $4 Million in Seed Funding

Billion Hearts is working on a digital product for a global market, which is still in stealth mode. The product aims to solve a smartphone-related issue using advanced technology. The beta version is expected to launch in the next few months.

By Ayushi Jain
New Update
Billion Hearts Software Technologies Pvt Ltd has Raised $4 Million in Seed Funding

Former Koo Co-founder Mayank Bidawatka’s new venture, Billion Hearts Software Technologies Pvt Ltd, has raised $4 million in seed funding. The round was led by Blume Ventures with participation from General Catalyst and Athera Venture Partners.

Investor of the round

The funding was driven by Karthik Reddy (Blume Ventures), Neeraj Arora (General Catalyst, ex-CBO of WhatsApp), and Rutvik Doshi (Athera Venture Partners). 

Billion Hearts, founded by Bidawatka in August, is developing a global digital product currently in stealth mode, aimed at addressing a common smartphone use case using deeptech. A beta launch is planned in the coming months, with thousands already signed up for early access.

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Karthik Reddy, Partner at Blume Ventures said, “Billion Hearts aims to create digital products for a global user base. The first product is slated for a beta launch in a few months. While the product is still in stealth, it deals with a wide use case that’s relevant for all smartphone users around the world, across age groups. It will use deeptech to solve the problem, Mayank has built and scaled multiple large ventures successfully in the past and we’re excited to partner with him once again to see his vision for Billion Hearts come to life,”.

This funding comes after an earlier angel round of around $250K, backed by well-known startup founders from companies like redBus, Ola, InMobi, Flipkart, and Myntra.

Neeraj Arora, Managing Director at General Catalyst, said, “We back audacious entrepreneurs building global products with positive powerful impact. Mayank and the Billion Hearts team have insight and a distinctive approach toward building a solution that caters to a wide and unmet need of users globally." "Mayank is a proven leader, who has built successful internet venturesin the past. He has a deep passion for creating global products from India. We're excited to be by his side on this journey.”

Billion Hearts Aim

Billion Hearts is working on a digital product for a global market, which is still in stealth mode. The product aims to solve a smartphone-related issue using advanced technology. The beta version is expected to launch in the next few months, and thousands of users have already signed up for early access.

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Mayank Bidawatka, Founder of Billion Hearts said, “I’m excited to announce that Billion Hearts is being backed by a set of folks I truly admire. I look forward to bringing happy products to users around the world with a commitment to build world-class products from India, While our product is still in stealth, I’d like to say that almost everyone with a smartphone will want this product, with no exception. Thousands of enthusiasts have already subscribed for our beta. We’ll soon announce something special for all those who sign up for early access,". 

Koo, a homegrown alternative to Twitter (now X), shut down in July after its talks for acquisition by DailyHunt fell through. Bidawatka and his co-founder, Aprameya Radhakrishna, announced the platform's closure due to the failed negotiations.

About Billion Hearts 

Billion Hearts Software Technologies Pvt Ltd focus is now on building simple consumer products for the world, one at a time.

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Read the Next Article

Zopper has Raised $25 Mn in Series D round Funding

Zopper plans to use the fresh funding to strengthen its overall tech stack, including the insurance distribution platform. Zopper helps businesses sell insurance products by connecting them to ecosystem partners like ecommerce marketplaces.

By Aryan Sharma
New Update
Zopper has Raised $25 Mn in Series D round Funding

 Zopper is an insurtech firm based in Delhi NCR, has raised $25 million (about INR 211.2 crore) in a Series D funding round headed by Elevation Capital and Dharana Capital, with Blume Ventures, an existing investor, also participating. 

Purpose of fundraising

With the additional funds, the business intends to fortify its whole technology stack, including the platform for distributing insurance.

Read Also - CredFlow raises $3.7 Million in Pre-Series B Round Funding 

Furthermore, according to a statement from the company, a portion of the revenues will also be used to improve Zopper's device and appliance protection business's post-sale and maintenance capabilities.

Furthermore, some of the funds have been set aside for investments in machine learning, artificial intelligence, data science, and data engineering.

In order to provide flawless customer support, the company is developing a modern policy administration system (PAS) that will make use of an up-to-date tech stack, effective algorithms, data management, and security features. 

Insurance companies and ecosystem partners provide Zopper with income. In order to deliver items to an ecosystem partner, it charges insurers a brokerage fee. 

Zopper Platform Offer

The Zopper platform allows ecosystem partners to handle issues pertaining to claims, endorsements, and post-sales, among other things. Every policy that passes through this specific conduit generates revenue for Zopper.

The business, which has investors including Creaegis, Bessemer Venture Partners, and ICICI Venture, says it has raised $100 million so far. In 2022, Creaegis led Zopper's $75 million Series C fundraising round.

It serves well-known brands including Amazon, Ola, Xiaomi, Croma, Hitachi, Equitas Small Finance Bank, and Chaitanya, and it is present in over 1,200 cities around India.

The investment in Zopper coincides with a boom in the Indian insurtech business, which is expected to reach a valuation of $307 billion by 2030. 

Additionally, investors are becoming more interested in domestic insurtech businesses. For example, Onsurity closed its Series B round at $45 million in September after raising an additional $21 million, headed by the private equity firm Creaegis.

Before that, Square Insurance, a Jaipur-based company, received $3 million in pre-series A fundraising in August from investors such as Negen Capital and BizDateUp.

About Zopper

Zopper is an embedded platform for insurance sales that was founded in 2011 by Surjendu Kuila and Mayank Gupta. Through its unique embedded insurance API suite, it assists major insurance companies in connecting with ecosystem partners, such as e-commerce marketplaces. 

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.

Tags: Zopper