Acko General Insurance, an insurtech startup founded by Coverfox Co-founder Varun Dua, today announced that it has raised US$12 million in a new round of investment, led by Amazon.

Ashish Dhawan, a veteran investor and founder of Private Equity fund ChrysCapital; and existing investor Catamaran Ventures also participated.

The latest infusion takes Acko’s total equity funding to nearly US$42 million. Last May, Acko secured US$30 million, in what could arguably be the largest seed round by an Indian firm, from Accel Partners and SAIF Partners.

Set up in 2016, Acko is a general insurance company that leverages on data and analytics to provide personalised insurance products. Acko operates as an independent general insurance company with its entire operations offered through the digital platform. It creates products and delivers opportunities in areas where there are gaps such as personalised insurance products based on user consumption behaviours.

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“Acko is a young and nimble startup bringing technology and data-led innovation to the insurance sector to deliver a better insurance experience for customers. We are excited to back companies that are focused on using technology for enhanced customer experience and are led by missionary founders and management teams,” said Amit Agarwal, SVP and Country Manager, Amazon India.

Acko’s other investors include Accel Partners; SAIF Partners; Swiss Re Reinsurance Holding Company; Transamerica Ventures Fund; Venk Krishnan and Subba Rao of NuVentures; Kris Gopalakrishnan, Co-founder Infosys; Hemendra Kothari of DSP Blackrock; Atul Nishar, Founder & Chairman of Hexaware Technologies; and Rajeev Gupta, veteran investment banker and Founder of Arpwood Capital.