Insurtech startup Pibit AI secured in $7 mn in fresh capital, a round led by Stellaris Venture Partners with Y Combinator and Arali Ventures piling in again. The company keeps gaining traction quietly, then suddenly not so quietly.
Akash Agarwal launched Pibit AI in 2020. Since then he built underwriting systems that insurers use to judge risk and set premiums.
He said the tech makes underwriting faster and sharper, and honestly that claim lines up with what users report.
Agarwal said the new funds go straight into research and development. He wants to bulk up the product and scale the team. Pretty standard on paper, but the ambition feels bigger than the press line.
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.
The startup calls its unified platform CURE. It keeps the underwriting workflow stitched together in one place. Document submission, checking, research, risk analysis, the whole pipeline. Goyal said it lifts efficiency in ways traditional workflows couldn’t.
Agarwal pointed out a big frustration. LLM platforms hallucinate, at times wildly. So Pibit built what he calls an agentic underwriting platform that sits underneath CURE and steers the model’s decisions. It’s their backend spine.
Users in the US say they see underwriting move 85% faster with the platform. That’s a huge jump. The team now explores expansion into Europe. They’re not rushing, but they’re watching those markets closely.
Stellaris partner Alok Goyal said underwriting gets choked by manual reviews, messy data, and tools that can’t keep up with rising volumes.
CURE automates and unifies the workflow, tightens accuracy, drops costs, and speeds quote generation in ways that drive revenue. His words, but the logic checks out.
Pibit AI has now raised $7.5 mn across two rounds. The company’s India office sits in Bengaluru. With the new funding, they plan to expand that team too. The global footprint grows, one piece at a time, even if the market barely noticed until now.
