Bengaluru-based AI insurtech startup NeuralKart has raised Rs 2.35 crore in a seed funding round led by Inflection Point Ventures.

The proceeds will be used for product development, AI and machine learning engineering, customer acquisition, go-to-market expansion and working capital.

Founded in 2024 by Manoj Raju, Shreyas R. Halageri and Vidvath Kamireddy, NeuralKart develops AI platforms for insurance operations and industrial safety.

Its insurance platform, InsureMind, automates underwriting, claims, renewals and audits by analysing insurers' policy documents. The company's FieldSense platform uses computer vision with drone, CCTV, IP camera and sensor data to identify safety risks at industrial sites and generate risk assessments.

NeuralKart claims to have onboarded paying enterprise customers and has maintained a 100% customer retention rate since inception. The startup works with general insurers and industrial risk services firms across health underwriting, claims automation and field safety, and has also entered a co-development partnership for its FieldSense platform.

NeuralKart operates at the intersection of insurtech and industrial safety technology, targeting enterprise customers in India and overseas.