Acko General Insurance, an India-based online insurance startup, has raised $12m in a new round of funding led by e-commerce giant Amazon.

Ashish Dhawan, angel investor and founder of private equity fund ChrysCapital and existing investor Catamaran Ventures owned by Narayana Murthy, also participated in the latest round.

The deal follows an earlier report that the Mumbai-based e-insurance startup has initiated negotiation with Amazon for a potential deal in January 2018.

The latest capital raise takes Acko’s total external funding to approximately $42m.

In May 2017, Acko raised $30m in its seed round of funding from SAIF Partners, Accel Partners, and Kris Gopalakrishnan, among others.

The company, which was registered in August 2016, was founded by Varun Dua-one of the co-founders of insurance comparison site Coverfox.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Acko operates as an independent general insurance company and delivers its services through a digital platform. Using data and analytics, the company provides bespoke insurance products as well as general and auto insurance.