InsuranceDekho secured $150M in Series A funding, the largest round to date for an Indian insurance technology startup.
Goldman Sachs Asset Management co-led the equity and debt funding round
along with TVS Capital Funds. The firm intends to use the proceeds to
accelerate product development, enter new markets, scale business, and
back strategic acquisitions as it gears up to expand its reach in rural
areas of India.
- Participants in the funding rounds include Investcorp, Avataar Ventures, and LeapFrog Investments.
- The firm expects to hit an annual run rate of $423M (Rs 3,500 crore) by March.
- InsuranceDekho is a subsidiary of the used vehicle marketplace startup CarDekho.
- The funding brings the firm's total fund raised to date to $270M.
- In Q4 2022, funding for Indian startups dropped to a two-year low, ending the quarter with $2.7B.
