In the latest startup funding news, HealthAssure has raised $2.5 million led by Blume Ventures while Binny Bansal has invested in fashion brand, House of Masaba. In another development, Zomato announced that it has acquired Feeding India.
Blume Ventures backs HealthAssure
The company plans to use the funds to further develop its platform, create sharper products focusing on insurance OPD products, build better data capabilities leveraging artificial intelligence and machine learning, and strengthen distribution.
Founded by Varun Gera in 2011, HealthAssure last raised $1 million in a pre-Series A round from The HR Fund in March 2018.
Binny Bansal invests in House of Masaba
The round also saw participation from Purple Style Labs, Apoorva Patni of Patni Group, and Apurva Salarpuria of Salarpuria group.
The startup plans to use the funding proceeds to scale its infrastructure, distribution network, and hiring. Founded in 2009 by Gupta, House of Masaba is known for its destination wedding wear and resort wear.
Zomato acquires Feeding India
Feeding India will continue to be a non-profit entity while Zomato will fund the operation. It will also support the development of the ‘Feedi.ng’ app which will connect donors and volunteers, and also help revamp the Feeding India website.
Zomato also aims to use the platform to serve at least 100 million underprivileged people every month. Feeding India is currently active in 82 cities.