India's Acko seeking funds for unicorn status

The startup is looking to raise about $200m.

Amazon-backed Indian online insurer Acko General Insurance is weighing a new funding round that could value the firm at more than $1b, reports Bloomberg.

The startup is looking to raise about $200m in the round, sources have revealed, and is also considering a listing as soon as this year.

Founded in 2016, Acko is among India’s first digital insurers which provide coverage for cars, motorbikes and taxi passengers. Besides Amazon, the startup also counts Accel, Catamaran Ventures and SAIF Partners amongst its investors.

The funding round, if successful, will make Acko the latest unicorn in India, where there’s been a boom for the technology industry. Last year, it raised $60m in a series D financing round.

Here’s more from Bloomberg.