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.
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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.
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By GlobalDataAcko 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.
