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We created this article as part of our research process for our Asian single family office database. Here, we are highlighting the latest startup investment from an Indian single family office.
InsuranceDekho, an online insurance marketplace, has successfully raised $60 million in its Series B funding round, amongst others from the Mahansaria single family office. This significant financial boost comes from a diverse group of investors, including Mitsubishi UFJ Financial Group, Beams Fintech, and BNP Paribas Cardif through its insurtech fund managed by Eurazeo. The round also witnessed participation from the family office of Yogesh Mahansaria, along with new investors and existing backers like TVS Capital, Goldman Sachs Asset Management, and Avataar Ventures. Co-founded by Ankit Agrawal and Ish Babbar in 2017, InsuranceDekho offers a platform for users to compare and purchase insurance policies across various categories, including motor, health, life, and travel insurance, from multiple top-rated companies.
Indian Mahansaria single family office invests in insurance startup
The single family office of Yogesh Mahansaria is one of the investors in the round. Mahansaria has been active for over 30 years in the “Off-Highway Tires and Paper board” industries. His group has invested in 6 companies and still has over 500 employees. For his venture capital investments, the family office mainly acts as minority investor. Further portfolio companies include Avendus Capital or Grayquest.
Article Source: TheStartupLab
Picture source: Naveed Ahmed
