Amazon, ChrysCapital's Ashish Dhawan invest $12mn in Acko

Amazon and veteran investor and founder of private equity fund ChrysCapital, Ashish Dhawan, have invested $12mn in Acko, a start-up bringing technology and data-led innovation to the insurance sector. Existing investor Narayana Murthy’s Catamaran Ventures also participated in the investment round. The latest infusion takes Acko’s total equity funding to nearly $42 mn.
 
Apart from Dhawan, Amazon and Catamaran Ventures, Acko also boasts of other marquee investors, including Accel Partners, SAIF Partners, Swiss Re Reinsurance Holding Company Ltd & Transamerica Ventures Fund, Venk Krishnan and Subba Rao of NuVentures, Kris Gopalakrishnan, Co-founder Infosys, Hemendra Kothari of DSP Blackrock, Atul Nishar – Founder & Chairman of Hexaware Technologies, Rajeev Gupta, veteran investment banker and Founder of Arpwood Capital, a statement released today by Acko said. Setup by Varun Dua in 2016, Acko’s general insurance company leverages on data and analytics to provide personalised insurance products through its digital platform.
 
“We are thrilled to have Amazon and Ashish Dhawan as our investors. This investment is a validation of Acko’s strategy to innovate ever more for tomorrow's financial needs of users,” said Varun Dua, Founder, Acko. “Acko is a young and nimble start-up bringing technology and data-led innovation to the insurance sector to deliver a better insurance experience for customers,” said Amit Agarwal, SVP and Country Manager, Amazon India, in a statement.
 
Commenting on his investment, Ashish Dhawan said "We strongly believe in Varun and his team's vision for a new age of insurance in India and are excited to be part of the Acko family."