bucking

The Carevoice, an embedded insurance solution provider that started in Shanghai and now has a footprint across 15 countries, has apparently made that math look attractive to investors in the space. The company just raised $10 million from a Series B financing led by U.K.-based Apis Insurtech Fund I, which contributed to most of the round. In 2023, U.S.-based digital health startups raised a total of $10.7 billion across 492 deals, the lowest amount since 2019, according to Rock Health, a health tech-focused seed fund. That funding slowdown also hit The Carevoice, though it weathered the storm by reaching healthy cash flow. Embedded health solution providers like The Carevoice can find themselves competing with traditional IT and consulting service companies, such as Tata’s TCS.