InsuranceDekho has acquired IRSS, enhancing its market position in the insurtech sector following a notable $150 million funding round.
Information on the Target
InsuranceDekho, a sibling company of CarDekho, has successfully acquired IRSS, marking a significant milestone just weeks after raising $150 million in funding during an otherwise difficult financial climate for startups. Founded by brothers Amit and Anurag Jain in Jaipur, InsuranceDekho aims to reshape the auto insurance landscape with innovative technology and customer-centric solutions.
The acquisition of IRSS aligns with InsuranceDekho's mission to consolidate its offerings in the insurance sector, particularly by enhancing its distribution capabilities and expanding into new market segments.
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Industry Overview in India
India's insurance industry is experiencing a transformative phase, driven by increasing digital penetration and a shift toward online solutions. Currently valued at approximately Rs. 1.10 lakh crore, the industry is e
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CarDekho
invested in
IRSS
in 2023
in a Other deal
Disclosed details
Transaction Size: $150M