Rural insurtech startup GramCover on Monday said it had raised $7 million as part of its Series A fundraise co-led by Siana Capital and Inflexor Ventures.

Stride Ventures also participated in this round alongside existing investors Omidyar Network India, Flourish Ventures and Emphasis Ventures (EMVC).

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With this fundraise, the company will strengthen its technology and product offerings. GramCover will also enhance the availability of various insurance products and services on its partner application while expanding its point of sale network, technology, sales and operation teams.

“We are excited about our Series A to fundraise with seasoned tech-focussed investors like Siana Capital and Inflexor. We, at GramCover, will be strengthened by their deep-tech domain expertise and their start-up experience as we work towards building growth and profitability focussed rural insuretech organisation,” said Dhyanesh Bhatt, co-founder and group chief executive at GramCover.