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Venture Capital
nuventures.in

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Investments

5

Portfolio Exits

1

Funds

1

About Nu Ventures

Nu Ventures is an early stage & Series A enablement Fund for Founders with disruptive ideas.

Headquarters Location

601, 6th Floor H. M. Geneva House, 14, Cunningham Road

Bengaluru, 560052,

India

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Latest Nu Ventures News

InsurTech startup OneAssure raises funds from Upsparks, Nu Ventures, others

Dec 14, 2021

By ADVERTISEMENT OneAssure an insurtech startup operated by Prost Technologies, has raised Rs 5 crore in a pre-Seed funding round, the company said in a statement on Tuesday. ADVERTISEMENT The round saw participation from Arun Venkatachalam, part of the Murugappa family; Amit Midha, President at Dell Technologies; Rohit MA, Managing Director of CloudNine Hospitals; Dalvir Suri, Co-founder of Dunzo; co-founder Suryoday Microfinance Ganesh Rao; micro seed funds Upsparks, Nu Ventures among others. “Just a small fraction of Indians have health insurance. With the pandemic highlighting its importance, demand has soared from big cities to small towns. But existing insurance distribution networks have not adjusted,” Ruchir Kanakia, co-founder and CEO of OneAssure said. ADVERTISEMENT “The fundraise helps us scale to focus on these new customers using trained partners and partnerships,” he added. Founded in October 2020 by Kanakia and Shreyans Maini, OneAssure is a health insurance marketplace that sells and services health insurance products. The firm said it is on course to process $1 million (around Rs $7.5 million) in premium by end of the financial year. Co-founders Ruchir Kanakia and Shreyans Maini have worked in early-stage startups such as Exotel and Cuemath, and, Pratilipi and Hotstar before starting OneAssure. Mohamad Faraz, founding partner at  Upspark  said “The insurance market is at an inflection point. The OneAssure team has a great combination with Ruchir having business-building experience and Shreyans having worked to scale technology platforms, so this investment is an interesting bet on the space. "  Founded by Faraz, Vinay Jain, and Shivam Prasad in 2020, Upsparks has been investing in seed and pre-seed rounds in tech startups. Of the 35 portfolio companies, notable ones include Zypp Electric, Pyxisone, Anar, and Decentro. New-age insurance companies have attracted significant funding lately. In October, digital insurance provider Acko has raised $255 million as a part of its Series D round led by private equity (PE) firms General Atlantic and Multiples Private Equity, at a valuation of $1.1 billion to enter the coveted unicorn club. In July, Bengaluru-headquartered general insurer Digit Insurance said it had reached a valuation of $3.5 billion, a jump of 1.8 times from January, after securing $200 million in a funding round led by returning investor Faering Capital. In March, Turtlemint raised $46 million in a Series D round while Omidyar Network backed the Series A round of Risckovry. In June, RenewBuy raised $45 million (Rs 332 crore) as part of its Series C funding round led by UK-based asset manager Apis Partners. ADVERTISEMENT

Nu Ventures Investments

5 Investments

Nu Ventures has made 5 investments. Their latest investment was in Lucidity as part of their Seed VC on September 9, 2022.

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Nu Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/8/2022

Seed VC

Lucidity

$5.3M

Yes

5

12/14/2021

Seed VC

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$99M

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10

9/9/2021

Series E

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$99M

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10

6/25/2019

Seed VC - II

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$99M

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10

Other Investors

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0

Date

9/8/2022

12/14/2021

9/9/2021

6/25/2019

Round

Seed VC

Seed VC

Series E

Seed VC - II

Other Investors

Company

Lucidity

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Amount

$5.3M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

5

10

10

10

0

Nu Ventures Portfolio Exits

1 Portfolio Exit

Nu Ventures has 1 portfolio exit. Their latest portfolio exit was TapChief on February 16, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/16/2021

Corporate Majority

$99M

13

Date

2/16/2021

Exit

Corporate Majority

Companies

Valuation

$99M

Acquirer

Sources

13

Nu Ventures Fund History

1 Fund History

Nu Ventures has 1 fund, including Nu Ventures I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/8/2015

Nu Ventures I

1

Closing Date

5/8/2015

Fund

Nu Ventures I

Fund Type

Status

Amount

Sources

1

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