Acquisition · Financial Services
CCI approves merger of InsuranceDekho and RenewBuy into Artivatic Data Labs
By Startup Enthusiast ·
- Date
- Company
- Artivatic Data Labs
- What it does
- AI-native insurtech platform
- Kind
- Acquisition
- Sector
- Financial Services
What they do
Artivatic Data Labs is an AI-native insurtech platform that provides underwriting and claims automation via API and SaaS
What happened
The Competition Commission of India approved the merger of four Girnar Group and RenewBuy entities into Artivatic Data Labs
Why it matters
The merged group is valued at about $1 billion, creating one of India's largest tech-led insurance marketplaces
The details
- The Competition Commission of India (CCI) approved the merger of four entities from the Girnar Group and RenewBuy into Artivatic Data Labs.
- The entities merging are Girnar Finserv, Girnar Insurance Brokers, D2C Consulting Services, and RB Info Services.
- Girnar Insurance Brokers operates InsuranceDekho and holds an IRDAI composite broking licence.
- D2C Consulting Services and RB Info Services operate RenewBuy, which distributes insurance and financial products through digital advisors.
- The merger creates one of India's largest tech-led insurance marketplaces.
- The merged group is valued at an estimated $1 billion (INR 8,000 crore).
- InsuranceDekho is valued at over INR 5,000 crore, and RenewBuy at about INR 3,000 crore.
The bigger picture
- InsuranceDekho raised $70 million in March 2025 from Beams Fintech Fund, MUFG, and BNP Paribas Cardif.
- InsuranceDekho's FY25 operating revenue was INR 1,290 crore, up 73.5% year-on-year.
- The merger consolidates two large insurance distribution platforms under an AI-native technology company.
About the business
- Artivatic Data Labs is an AI-native insurtech platform that provides underwriting and claims automation via API and SaaS.
- InsuranceDekho allows users to compare, buy, and renew insurance policies for health, life, term, car, and bike.
- InsuranceDekho has 17 million+ customers, a 4.7 Google rating, and has served 145,000+ claims.
- RenewBuy distributes insurance and financial products through digital advisors and also offers wellness products and acts as a direct selling agent for loans and credit cards.
- Girnar Software Pvt Ltd (GSPL) also runs CarDekho, BikeDekho, TruckDekho, Rupyy, ZigWheels, and CollegeDekho.
The deal
- Type
- merger
Founders
- Ankit Agrawal, Founder