Mumbai, Jan 31 (GCBusiness) InsurTech startup Kruzr has raised 1.3 Million USD (Rs. 9.5 Cr) for its seed round led by Saama Capital with participation from Better Capital.
Kruzr is a preventive motor insurance technology which helps insurance companies personalize policy premiums & improve their risk model by delivering an engaging preventative driving assistant to their customers.
Kruzr is founded by Pallav Singh, Ayan, and Jasmeet Singh Sethi. Kruzr blends the power of voice technology and artificial intelligence in its personal driving assistant that helps drivers minimise mobile distractions, drowsy driving, speeding and external risks like weather and accident-prone zones. In pilots with insurers, Kruzr managed to cut down distracted driving by 80 pc.
Kruzr is working with motor insurance companies in Europe, UK and India to bring its technology to their customers to prevent accidents & improve claims.
The funds raised will be utilised to grow the technology team, scale the product, and expand the business in Europe and UK.
”We were very impressed by the founding team’s vision for Kruzr and their significant customer progress in the European automobile insurance market. We believe Pallav, Ayan and Jasmeet can build a world-class product company out of India serving this sizeable and growing global market,”said Suresh Shanmugham, Managing Partner, Saama Capital