Amazon-Backed Acko Seeks $200 Million In Funding, Valuation At $1 Billion

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Acko General Insurance Ltd. is deliberating a new round of funding that could increase the valuation of the startup at $1 Billion, making it the latest entrant in India’s unicorn club. `

The Amazon.com Inc.- sponsored startup is looking to raise $200 million up in the round, said individuals acquainted with the matter. Acko is eventually looking at a listing this year.

The subsidizing round, if fruitful, will make Acko the newest unicorn in India, given there’s been an upsurge in the innovation business. In April this year, India minted 6 new billion dollar start-ups .

Established in 2016, Acko is among India’s first computerized guarantors that gives inclusion to vehicles, motorbikes and even taxi travelers just as health care coverage. It has in excess of 400 representatives and has offered arrangements to more than 50 million clients. Other than Amazon, the startup likewise checks Accel, Catamaran Ventures and SAIF Partners among its financial backers. 

The Bangalore-based startup brought $60 million up in an arrangement D financing round a year ago.

Considerations are continuous and Acko’s most recent raising money plans could in any case change, individuals said. Acko Managing Director Varun Dua declined to remark.



Categories: Corporate M&A, Startups, Venture Capital

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