KENKO HEALTH
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed them.
Zepto’s mega financing; shareholder battle at Kenko Health
Happy Wednesday! Zepto is holding talks with investment fund DST Global and venture capital firm Lightspeed for funding. Details on this and more in today's ETtech Morning Dispatch.
Insurtech startup Kenko Health stares at shutdown: What went wrong?
Insurtech startup Kenko Health is facing closure due to a shareholder battle and funding issues. The company, backed by Peak XV Partners and Orios Venture Partners, struggled to raise capital from the Hero Group, leading to a stalemate. With no immediate funding prospects, the $39.7 million-valued firm is on the verge of shutdown, impacting its workforce and operations.
Regulatory scrutiny may queer the pitch for insurtech; and other top startup & tech stories this week
Multiple people in the know have told me that the insurance regulator is not comfortable with the typical corporate structures of startups, and may not be in favour of granting them an insurance manufacturing licence. The regulator wants these firms to get rid of any holding company structures, onboard investors directly into the applying entity, and have founders bring in sufficient amount of net worth before applying.
Startups in queue for insurance licence face stricter norms
Backing of a large local investor, considerable net worth of promoter and founder are among key requirements laid down by the sector regulator.
We aim to ease patient burden via innovative healthcare financing: Aniruddha Sen, Kenko Health
Currently, Kenko Health is operating out of 40 cities across India including Delhi, Mumbai, Bengaluru, Kolkata, Nagpur, Indore, Lucknow, Vijaywada, Kochi, Mangalore etc.
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Startups go all out to attract talent; Lightspeed chases growth deals
Indian startups including the likes of Meesho, PhonePe, Upgrad, Purplle, Pristyn Care and Spinny are going all out to rope in and retain talent, promising things like unlimited leave and no downsizing.
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