Bengaluru-based insurtech startup Plum has announced a significant investment of approximately $24 million (INR 200 crore) to expand its footprint in the healthcare sector. This strategic move marks a pivotal shift for the company as it aims to go beyond traditional group insurance and focus on digital health services and preventive care.
Founded to transform employee health benefits, Plum is now positioning itself as a comprehensive healthcare platform. The investment will be utilized over the next five years to enhance tech infrastructure, recruit top talent, and establish key partnerships in the healthcare ecosystem.
One of the standout initiatives under this expansion is the launch of Plum Health Checkups, an at-home screening service designed to detect chronic illnesses early. Additionally, the company plans to offer teleconsultations and AI-powered health tracking to cater to working professionals across India.
Plum has already made significant strides in the digital health space, conducting over 100,000 teleconsultations in 2024 alone. The company targets healthcare to contribute 30–40% of its future B2B revenue, signaling a strong pivot from its original insurtech model.
Backed by prominent investors like Tiger Global, Plum is also setting ambitious goals to manage over INR 10,000 crore in insurance premiums within the next five years. This expansion reflects a broader trend of insurtech firms diversifying into full-stack healthcare solutions.
As Plum continues to innovate, it aims to cover millions of individuals by 2030, blending insurance with accessible and preventive healthcare services. This investment could set a new benchmark for how technology-driven companies address health challenges in India.
Andrew Lee
