- Flipkart co-founder Binny Bansal and the fund led by Kabir Misra, ex-managing partner at Softbank among others have led a $65 million Series C round in digital insurer Acko General Insurance Ltd., in a deal that showcases rising interest in India’s online insurance space from billionaires and venture capitalists alike.
- Existing investors Amazon, Accel Partners, SAIF Partners, and TechPro Ventures, the family office of Hexaware founder Atul Nishar also participated.
- Founded by Varun Dua, Acko received one of India’s biggest seed rounds at the time, when in 2017 it raised $30 million from marquee venture capital funds Accel Partners, SAIF Partners, Infosys founder Narayana Murthy’s Catamaran Ventures and Infosys co-founder Kris Gopalakrishnan.
- Acko plans invest the funds raised in technology and analytics,a focus area for the insurer.
Binny Bansal, Softbank’s Kabir Misra lead $65 million in digital insurer Acko
13 March 2019 1:56 PM GMT
Acko received one of India?s biggest seed rounds at the time, when in 2017 it raised $30 million�.Existing investors, including Amazon, Accel Partners and SAIF Partners also participated in the round