Singaporean investment holding company Temasek and Indian online recruitment operator Info Edge have co-invested 190.5 crore rupees ($27.6 million) in the parent entity of online insurance selling platform PolicyBazaar, possibly as part of the $200-million funding round the India startup raised last month.
The funding round valued PolicyBazaar at about $1 billion, catapulting the firm into the haloed unicorn club, an industry term for startups valued at $1 billion or more.
PolicyBazaar clocked 358.27 crores rupees ($52 million) in revenue for the financial year ending March 2018.
Last month, PolicyBazaar raised $200 million (1,360 crore rupees) in a Series F funding round led by Japanese internet conglomerate SoftBank, with participation from Info Edge.