InRisk Labs Raises $27 Million in Series A Funding to Scale Its AI-Led Reinsurance Platform EarthRe
Ahmedabad and GIFT City-based insurtech startup InRisk Labs has raised $27 million, around Rs 256 crore, in a Series A funding round co-led by Bessemer Venture Partners and Northpoint Capital.
Here's what makes this round particularly significant, it comes alongside a genuine regulatory milestone. InRisk Labs' subsidiary, EarthRe, has become the first incorporated reinsurer to receive a licence from the International Financial Services Centres Authority at GIFT City, giving the group licensed risk-bearing capacity on top of its existing technology and data platform.
The company's own framing of its evolution is worth noting. InRisk Labs describes itself as having grown from a pure technology-led insurtech platform into a fully integrated reinsurance group, InRisk Labs builds the underlying technology, data and risk-intelligence infrastructure, while EarthRe deploys that capability through a regulated reinsurance balance sheet focused on India and the broader Global South.
The fresh capital has a clear, fairly technical roadmap. It will go toward strengthening underwriting, actuarial, catastrophe modelling and AI capabilities, expanding coverage into natural catastrophe and climate risk as well as other non-life segments like marine cargo and motor, developing parametric and structured reinsurance products, and meeting the regulatory capital requirements needed to scale EarthRe's operations.
The investor conviction behind this deal runs deep. Bessemer Venture Partners' Vishal Gupta noted that the firm backed InRisk Labs at the seed stage and has now doubled down on its investment, calling this round a bet on long-term capital discipline, underwriting rigour and sustainable growth. Northpoint Capital's Sameer Brij Verma added that EarthRe combines a licensed balance sheet with an AI-native risk platform and genuine underwriting expertise, a combination he sees as rare in India's insurance landscape. This also marks Bessemer's second major insurtech bet this year, having earlier led the $15 million Series B round of cyber risk and insurance startup Mitigata.
The opportunity size is real too, India's reinsurance market is estimated at around $10 billion, and climate-linked risk is only becoming a bigger part of that pie as extreme weather events grow more frequent and costly.
From a GIFT City licence to AI-native underwriting, InRisk Labs is betting that the future of reinsurance in India will be built on data, not just capital.
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— Sandeep Raiza