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The IPO preparations come as InsuranceDekho continues to work on its merger with insurance distribution platform RenewBuy.
CarDekho-parent Girnar Group’s four entities will be merged into Artivatic Data Labs, an AI-focussed insurtech startup RenewBuy acquired in 2022.
This capital will enable InsuranceDekho to expand reach, enhance tech-driven offerings, and solidify position, the company's founder Ankit Agrawal said.
InsuranceDekho founder and CEO Ankit Agrawal and other top officials of the startup were not present in the office at the time of raid.
InsuranceDekho's revenue from operations surged to Rs 743.6 crore for the fiscal year, ending March 2024 from Rs 96.5 crore reported in the previous fiscal.
This announcement follows InsuranceDekho’s recent acquisition of a composite insurance broking license from IRDAI.
