There looks to be no stop for India’s spree of producing unicorns. Last year, while the whole world was on its knees, India generated a record of 11 unicorns of which three entered the popular club in the last month. Fast forward to 2021, it just took 15 days for India to deliver the year’s first unicorn – Digit Insurance.
Insurtech startup – Digit Insurance on Thursday raised INR 135 crore of money from its current investors. Matching to media reports, the Bengaluru-headquartered startup post the capital infusion is valued at $1.9 billion.
The insurance-based startup was established by Kamesh Goyal, an insurance veteran with involvement in companies like Allianz Insurance and Bajaj Allianz Life Insurance in 2016. It is one of the first fully cloud-based insurance firms in the country.
The main reason behind forming the startup was to simply customers’ insurance journey with the help of technology. It boasts a portfolio of products across travel, vehicle, property, and health insurance.