Employee healthcare platform Onsurity has raised Rs 219 crore (approximately $26.4 million) in a fresh funding round led by Creaegis, with additional support from existing investors Nexus Venture Partners and Quona Capital.
According to regulatory filings with the Registrar of Companies (RoC), the board of Onsurity passed a resolution to issue 10 equity shares and 6,302 Series B1 compulsorily convertible preference shares (CCPs) at an issue price of Rs 3,48,089 each. This move helped the company raise a significant Rs 219 crore sum.
Creaegis took the lead in this round by contributing Rs 176.4 crore, while Nexus Ventures and Quona Capital added Rs 31.4 crore and Rs 11.9 crore, respectively. Following the new investment, Creaegis will hold a 17.10% stake in the company, with Nexus and Quona controlling 28.22% and 12.82%, respectively.
The fresh funds are earmarked for the company’s growth and expansion initiatives, working capital needs, and general corporate purposes.
Founded in 2020 by Yogesh Agarwal and Kulin Shah, Onsurity provides subscription-based healthcare services for businesses, covering employees, contractors, interns, and consultants. The company, through its subsidiary, also offers a range of business insurance products, including cyber insurance, Directors & Officers (D&O) liability insurance, and commercial general liability insurance.
This new capital injection is expected to accelerate Onsurity’s growth in the employee benefits space, positioning it as a leader in India’s evolving healthcare tech industry.
