Online Insurance Startup Acko raises $12 Mn from Amazon
Acko Technology, an online insurance startup raised $12 million in a fresh round led by e-commerce giant Amazon India as informed by the company on Sunday.
The funding round witnessed participation from new investor Ashish Dhawan and existing investor Catamaran Ventures (Owned by Narayana Murthy).
The new infusion has taken Acko's total equity funding to about $42 million with its valuation at about $100 million.
The round led by Amazon marks company debut in the financial sector where it will now co-create products with the insurance tech startup - besides being its distributor.
Acko-headquartered in Mumbai came to inception in 2016 as an independent entity post a restructuring at online insurance aggregator Coverfox, which witnessed its co-founded Varun Dua step down to kicks...