Acko Acquires Better Capital-Backed Startup OneCare

• General insurance player Acko has acquired OneCare, a startup involved in chronic care management, in an all-cash deal. The amount was not revealed.
• OneCare founders Rakesh Shivran and Sagar Bhat will join Acko’s leadership as part of the acquisition strategy to expand healthcare solutions.
• OneCare raised $1 million in seed funding in 2021 and had revenues of Rs 7.3 lakh and a loss of Rs 1.4 crore in FY22. Latest financials were not available.
• Acko, founded in 2016, has distributed over 1 billion policies and served 78 million-plus customers, raising $598 million in funding to date.
• This acquisition marks Acko’s third, following the purchases of Vler in 2019 and Parentlane in 2023, as it continues to invest in and partner with various startups.

Source: The Arc