Onsurity Raises Rs 219 Crore In New Funding Led by Creaegis

The employee healthcare platform Onsurity,  raised Rs 219 crore in a new funding round led by Creaegis, according to media reports. The funding round also saw the participation of existing investors Nexus Venture Partners and Quona Capital.

The fresh proceeds would be used for the company's growth, expansion, working capital requirements and general corporate purposes.

As per media reports, Onsurity has been valued at around Rs 1,032 crore post-allotment, Creaegis oversaw the funding with Rs 176.4 crore while the existing investors Nexus Ventures and Quona Capital pitched in with Rs 31.4 crore and Rs 11.9 crore respectively as per the report.

Following the funding round, Creaegis will reportedly hold 17.10 per cent of the company while Nexus Venture Partners and Quona Capital will command 28.22 per cent and 12.82 per cent, respectively, according to media reports.

Onsurity has raised over Rs 6.6 crores till date including Rs 2.4 crore in a series B round in October last year. It raised 1.6 crore in Series A funding in August 2021.

Creaegis' investment portfolio includes companies like Third Wave Coffee, Doceree, Medikabazaar, Zopper, and Kale Logistics.

As per media reports, the company currently works with over 5,000 companies, including Zepto, DBS Bank, Jupiter Money, CleverTap, Porter, Sobha Developers and Pantaloons among others.