$1 billion+ club round-up: Acko could be India's next unicorn, Cars24 to double its valuation, and more

An overview of what's happening in Indian's unicorn space.

Online general insurance startup Acko is in talks to raise $200 million

The Bengaluru-based firm is reportedly in advanced talks to raise $200 in a fresh round of funding, which according to an Economic Times report, could value the company at $1 billion, making it India’s next unicorn.

Founded in 2016 by Varun Dua and Ruchi Deepak, the new-age online insurance provider has over 60 million unique customers.

Cars24 could soon double in valuation

The used vehicle unicorn is reportedly in talks with DST Global among other investors to raise between $200 and $250 million. The funds could double the startup’s valuation to $2 billion.

Headquartered in Gurugram, the startup was founded in 2015 by Ruchit Agarwal, Vikram Chopra, and Mehul Agrawal to help streamline the used cars industry.

Fintech startup Digit raises $200 million

In one of the largest funding rounds in India’s insurance market, the startup is set to raise $200 – which will increase its valuation to $3.5 billion. The startup provides health, travel, and auto insurance and is looking to win insurance customers via mobile technology.

The latest round of funding has come from Sequoia Capital India, and existing investor Faering Capital Pvt among others.

Previously named Go Digit General Insurance Co., the company became a unicorn in January when it was valued at $1.9 billion.

Amanat Khullar is the Content and Editorial Manager at ADIF.

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