Plum, a Bengaluru-based group health insurance start-up, raised Rs.7 crore as seed capital from Incubate Fund, Gemba Capital and Tracxn Labs. Other angel investors have also participated in this round. Plus also has an insurance distribution licence of IRDA. Plum works with 9 insurers and boasts of 100 corporate clients.

Plum essentially offers group insurance products with transparent pricing and quality healthcare, in a systematic manner. The idea is to empower every Indian company to provide high-quality health cover to employees. The revenue model is more in the form of advisory fee collections from corporates to avoid principal-agent conflicts.