NSRCEL Startups
BimaKavach secures funding to expand AI-powered insurance platform
BimaKavach, a start-up incubated at the FinTech Centre of Excellence at NSRCEL, in partnership with the Government of Karnataka, has raised an undisclosed round of funding from Beyond Capital Ventures.
The fresh investment will support the start-up’s mission to make commercial insurance more accessible for India’s micro, small and medium enterprises (MSMEs). By leveraging artificial intelligence to streamline underwriting and simplify insurance processes, BimaKavach aims to address the significant protection gap faced by small businesses while making coverage faster, more efficient and easier to access.
The funding marks another milestone in the start-up’s journey to build technology-driven financial solutions for India’s growing MSME ecosystem.
Chara Technologies recognised for breakthrough electric motor innovation
Chara Technologies, an NSRCEL-incubated start-up, has been recognised by Union Minister for Commerce & Industry, Shri Piyush Goyal, for its pioneering work in developing rare-earth-magnet-free electric motor technology.
The recognition highlights the growing contribution of Indian deep-tech start-ups to sustainable mobility and advanced manufacturing. Chara’s innovation offers an alternative to conventional electric motors by reducing dependence on rare-earth magnets, while supporting the development of cleaner, more resilient technologies.
Commending the start-up’s work, Shri Piyush Goyal noted that such innovations are helping create globally relevant solutions while strengthening India’s vision of becoming a self-reliant manufacturing and technology hub.
