Digit Insurance raises fresh funds at $3.47 Bn valuation

General insurance provider Digit Insurance had announced in July that it raised $200 million at a valuation of $3.5 billion.
Motor is the largest category for Digit Insurance which contributes 75% of gross premiums on the platform whereas fire and health insurances constitute 20%. According to the company, it had recorded Rs 3,243 crore.
Digit Insurance majorly competes with Acko and a host of general insurance companies.

[Via]

Daily.

A91 Partners closes second fund at $525 million

Investment firm A91 Partners has closed its second fund, notching up a corpus of around $525 million amid heightened deal activity in India, two people in the know of the matter said.
Founded in 2018 by three former Sequoia Capital managing directors, Abhay Pandey, VT Bharadwaj and Gautam Mago, A91 had raised $350 million two years ago, one of the largest such fundraises by Indian general partners.
ET reported on August 11 that Stellaris Venture Partners had raised $225 million for its second India-dedicated fund, almost three times the size of its $90 million maiden fund, launched four years ago.

[Via]

Daily.

New Delhi: The Koo app, a homegrown rival to US-based microblogging site Twitter Inc., has clocked one crore downloads in less than 18 months of operations.
The app had won the government’s Aatmanirbhar App Innovation Challenge last year.
Started in March 2020 by Aprameya Radhakrishna and Mayank Bidawatka, the Koo app is currently available in eight languages-including Hindi, Kannada, Marathi, Tamil, Telugu, Assamese, Bangla and English.

[Via]

Daily.