India, Aug. 5 -- GIFT City-based insurtech startup InRisk Labs has raised $27 Mn (about Rs.256 Cr) in a Series A funding round co-led by Bessemer Venture Partners and Northpoint Capital.

The fresh capital will be used to strengthen the startup's underwriting, actuarial, catastrophe modelling and AI capabilities.

It also plans to expand into new non-life insurance segments, develop parametric and structured reinsurance products, and meet regulatory capital requirements to scale its subsidiary EarthRe's operations in India's $10 Bn reinsurance market.

Alongside the fundraise, the startup said EarthRe Insurance IFSC has secured a reinsurance licence from the International Financial Services Centres Authority (IFSCA).

With this, EarthRe h...