Loop Raises $25 Million in Series B Funding Round

Loop, a Pune-based healthcare and insurance startup has raised $25 million in a Series B round funded by General Catalyst and Elevation Capital (formerly Saif Partners). The round also included the participation of major Silicon Valley investors Vinod Khosla and Khosla Ventures, Sierra Ventures, and new investors Optim Ventures.

The company will use the new funds to drive revenue growth, product development, and strategic employee recruitment. This will help his efforts to extend his new health insurance model to millions of people across India.

Founded in 2018 by Mayank Kale, Ryan Singh, Amrit Singh, and Shami Raj, Loop provides an instant virtual care experience with a group of health insurance plans offered by leading insurance companies.

The company said it is the only insurance broker in the country with an in-house medical team. This means expanding prevention directly and helping members manage chronic illnesses such as diabetes, high blood pressure, COPD, and mental health problems.