InsurTech startup Pibit AI, which builds AI-powered underwriting technology for insurers, has secured $7m in fresh funding as it looks to accelerate development of its platform and expand its team.
The funding round was led by Stellaris Venture Partners, with returning investors Y Combinator and Arali Ventures also participating, according to beinsure.
The latest injection brings Pibit AI’s total capital raised to $7.5m across two rounds, according to the company.
Founded in 2020 by Akash Agarwal, the company has grown steadily in the background but is now drawing more attention as it sharpens its focus on the US insurance market.
Pibit AI develops underwriting technology designed to help insurers analyse risk and produce pricing decisions more efficiently.
The company says its systems give insurers a way to manage the fragmented, inconsistent data that often slows underwriting and complicates policy decisions.
The new capital will be used to strengthen research and development, deepen the product capabilities and expand teams across the US and Bengaluru.
The company believes the funding will support the next phase of its roadmap as it moves further into large-scale underwriting automation.
Central to the firm’s product suite is CURE, a unified underwriting platform that consolidates document collection, data processing, research tasks and risk assessments into one workflow.
The company claims clients in the US have already seen underwriting times improve significantly through the platform, and it is exploring potential expansion into Europe over the medium term.
Pibit AI has also built an internal agent-driven system designed to guide its underwriting models more reliably, addressing challenges posed by inconsistent or incomplete data. The company says this foundation helps improve decision-making accuracy and reduces errors associated with generic AI models.
Speaking on the news, Agarwal said, “We are building a vertical AI for a very specific niche of business insurance in the US. The data sits messy, fragmented, not predictable, not neat. No one in the market held a real system for this problem. Pibit claims it built one.”
Pibit AI plans to expand its Bengaluru office as part of its growth strategy, with international hiring expected to follow as it develops its global footprint.
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