Loop, a Pune, India-based healthcare and insurance startup, raised $25M in Series B funding.
The round was led by General Catalyst and Elevation Capital, with participation from Vinod Khosla, Khosla Ventures, Optum Ventures and Sierra Ventures.
The company intends to use the funds to accelerate growth and expand operations.
Founded in 2018 by Mayank Kale, Ryan Singh, Amrit Singh, and Shami Raj, Loop provides group health insurance plans from prominent insurers to companies, bundled with instant, unlimited primary care. Loop has recorded growth in FY 2021-22. The company has seen a 5x revenue growth from the previous financial year. They now provide health insurance & benefits to 130K+ members at 300+ companies across India. Their corporate team has grown from 50 to 250 in this period.
Clients include Medline Industries, Knorr Bremse, WOM group, and SKF.