Artificial Intelligence (AI)-based insurtech startup Fedo has raised $1 Mn in pre Series A round led by Unicorn India Ventures. The funding round saw participation from SEA fund along with Ashish Mehrotra, Former MD and CEO, Max Bupa.
Fedo is a Bengaluru-based insurtech startup, which has built an AI/ML platform that leverages the power of deep tech and medical research to automate underwriting in the health and life insurance sector. It uses computer vision and AI algorithms to help insurers enhance sales, reduce costs, and enrich the quality of their portfolio.
Speaking on the investment, Prasanth Madavana, Co-founder, Fedo, said, “Our vision is to offer AI backed solutions to insurance providers, which enables early identification of potential health risks by using non invasive methods thereby reducing out of pocket expenditures of individuals and making insurance accessible, affordable, and personalised.”