InsuranceDekho tops up Series A funding to $150-M

Jaipur-based InsuranceDekho has raised a total of USD 150 million in equity and debt, making the deal the largest series A round by an Indian insurance technology company. The equity round was led by Goldman Sachs Asset Management and TVS Capital Funds (via TVS Shriram Growth Fund III), with participation from Investcorp, Avataar Ventures and LeapFrog Investments. InsuranceDekho, which was founded by Ankit Agrawal and Ish Babbar in 2016, aims to achieve an annualized premium run-rate of INR 3,500 crore by March 2023. It will use the funding to improve technology, enter new markets and launch products in the health and life categories. The money will also be used for the company's micro, small and medium enterprise (MSME) insurance business and strengthen the leadership team.