India, Nov. 20 -- Insurtech startup Pibit.AI has bagged $7 Mn (about INR 62 Cr) in a Series A funding round led by Stellaris Venture Partners, with participation from existing investors Y Combinator and Arali Ventures.

The startup plans to deploy the fresh capital to bolster its R&D function, strengthen product development and expand the core capabilities of its CURE platform. Besides, it also plans to expand its advanced risk models, and deeper data partnerships to make its offerings more adaptive to new lines of business and emerging risks.

Founded in 2020 by IIT-Roorkee alum Akash Agarwal, Pibit.AI offers a GenAI-powered underwriting platform called CURE (Centralised Underwriting Risk Environment) that automates data ingestion, analy...