Insurance startup Loop has gained $25 million in its Series B round co-led by General Catalyst and Elevation Capital. Other participants in this round were Vinod Khosla’s Khosla Ventures, Sierra Ventures and Optum Ventures.

Loop was founded by Mayank Kale, Ryan Singh, Amrit Singh and Shami Raj in 2018. The startup offers group healthcare packages to companies. This includes prominent insurers, dedicated doctors and routine check-ups. They are trying to ease the way and bring choice for patients seeking major medical treatments.

They claim to be India’s first integrated care provider. The startup’s clientele includes Saregama, Incred, NoBroker and more. They have offered their services to 300+ companies and over 1,30,000 people. They have finished over 15,000 medical consults. Their amount of claims reimbursed is ₹50,00,00,000+.

So far, Loop has raised $40 million. They had raised $12 million in their Series A round. This round saw participation from Zach Sims, Y-Combinator, General Catalyst, Sierra Ventures, Soma Capital and more. The funds will be used to increase sales, develop their product and hire fresh talent for the team. 

As much as $70 billion is spent as an out-of-pocket expense as health insurance is marginal in India. Where 68% of all US citizens are covered with private individual insurance, less than 1% of Indians are covered under the same according to IBEF.