Startup Loop Health raises $12 mn from Elevation Capital, Vinod Khosla

The health insurer has grown significantly, insuring over 50,000 members across 150 firms in the past 12 months and growing 50% month-over-month amid the pandemic

Loop Health, a Pune-based health insurance startup, has raised $12 million in a Series A round co-led by Elevation Capital and General Catalyst. This round saw participation from other investors including Vinod Khosla (through Khosla Ventures), YC Continuity Fund, and Tribe Capital. It also featured leading angels including NoBroker founder Amit Kumar AgarwalLivspace founder Ramakant Sharma, Meesho co-founders Vidit Aatrey and Sanjeev Barnwal.

Loop targets covering 1 million members by the end of 2022 and 5 million members across Southeast Asia in the next five years. The company will use the fresh funds to scale the business and sales, focus on