US based e-commerce giant Amazon is close to invest in a Mumbai based startup called Acko Technologies, which is a digital-only insurance startup. Amazon is in final stages of the deal and might close anytime soon, reported Times of India.

According to the report, Amazon could invest about ₹100 crore in the plausible funding round of the startup and come on board of Acko.

Founded in 2017 by Varun Dua, who is also founder & CEO of, Acko Technologies is a parent company of Acko General Insurance.

In May 2017, Acko had received $30 million (about ₹200 crore) even before its launch and it was also touted to be one of the largest seed rounds for the Indian startup ecosystem. The funding round saw the participation of N R Narayan Murthy's Catamaran Ventures, Infosys co-founder Kris Gopalakrishnan, Hemendra Kothari of DSP Blackrock, and VC firms Accel Partners and SAIF Partners.

Notably, it was also reported that Indian e-commerce giant Flipkart was too in talks for possible investment but it didn't materialize and now Amazon is just on verge of the another record funding of Acko.

If Amazon invests in Acko, which looks very much certain, the US firm will then co-create a financial product with the Indian startup. And this will then change the ball game altogether in Indian market especially for players like Paytm.

Post a Comment

Previous Post Next Post
Like this content? Sign up for our daily newsletter to get latest updates.