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Amazon-Backed Insurtech Acko Joins Unicorn Club With $255 Million Funding

Amazon-Backed Insurtech Acko Joins Unicorn Club With $255 Million Funding

10/27/21, 10:46 PM
Money raised
$255 million
Insurance policy provider Acko is the latest Indian startup to become a unicorn, joining nearly three dozen other firms in the world’s second largest internet market that have attainted the coveted status this year.

Company Info

Company
Acko
Additional Info
The Bangalore-headquartered startup said it has raised $255 million in a new financing round, bringing its all-time raise to $450 million. The startup has distribution partners with a number of firms including Amazon, which is an existing investor in Acko, as well as travel and hotel booking platform MakeMyTrip, ride-hailing firm Ola, insurance giant Bajaj Finance, and Urban Company. We are thrilled to partner with trusted investors who have a deep understanding of the regulatory environment and bring first-hand experience in working with innovative, high-growth companies.”The startup said it plans to deploy the fresh capital to broaden its healthcare offerings and hire more talent across technology, product, and data science roles.“We also continue to deepen our health strategy and intend to invest over $150mn in the health business in the near future. The startup is looking to raise over $800 million in the IPO. Insurance policy provider Acko is the latest Indian startup to become a unicorn, joining nearly three dozen other firms in the world’s second largest internet market that have attainted the coveted status this year.