Mumbai-based insurance-tech startup i3 Systems has raised $1.5 million from Unitus Ventures in a pre-Series A round of funding. The startup plans to use the funds to advance its technology that enables seamless adoption of their product across all repetitive business processes in the BFSI industry.
Reliance Industries CFO Alok Agarwal and Zhooben Bhiwandiwala, President, Mahindra Partners co-invested along with Unitus Ventures.
Dr Mallesh Bommanahal, Co-founder and CEO, said,
“With our solutions, i3claim and DataMD, we have processed over 3.5 million health claims and 6 million policy proposals till date. With Unitus Ventures and our new investors backing us, we plan to utilise the funds to grow our AI models portfolio for our customers and increase global footprints.”