AI Startup Funding
InRisk Labs banks $27M as EarthRe wins a GIFT City reinsurance licence
By Arjun
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6 Aug 10:08 AM
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Via The Economic Times
GIFT City climate insurtech InRisk Labs raised $27 million in a Series A co-led by Bessemer Venture Partners and Northpoint Capital, valuing the group near $70 million, cofounder Siddesh Ramasubramanian told The Economic Times. Most proceeds will capitalise subsidiary EarthRe Insurance IFSC, which won a final IFSCA reinsurance licence as GIFT City's first locally incorporated reinsurer. The stack mixes catastrophe models and AI underwriting with parametric payouts tied to weather indices. Why it matters: India needs regulated reinsurance capital for climate risk, not another demo. Caveat: AI here is still mostly modelling tooling, and scale in a crowded reinsurance market is unproven.
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