Ahmedabad-based InRisk Labs secures $27 million in a Series A funding round to transition from a software provider to a licensed reinsurer, leveraging GIFT City as a strategic hub for growth in the Global South’s insurance market.
Ahmedabad-based insurtech group InRisk Labs has raised $27 million in a Series A round led by Bessemer Venture Partners and Northpoint Capital, in a fundraising that the company says will support a broader move from software provider to regulated reinsurer. The company plans to channel the capital into underwriting, actuarial, catastrophe-modelling and artificial intelligence capabilities, while also widening its reach beyond natural-catastrophe and climate risk into lines such as marine cargo and motor.
The funding also underpins the growth of EarthRe Insurance IFSC Limited, which InRisk Labs says has secured a licence from the International Financial Services Centres Authority for its reinsurance business. EarthRe was incorporated on 18 December 2025 and is registered in Ahmedabad, according to company records, giving the group a formal operating base in GIFT City as it builds out its balance-sheet capacity. The IFSCA, established under India’s 2019 law for international financial services centres, regulates insurance and reinsurance activity in those jurisdictions.
InRisk Labs says the wider group has evolved from a technology-led platform into an integrated reinsurance business with licensed risk-bearing capacity. Under that structure, InRisk Labs develops the data and risk-intelligence stack, while EarthRe is intended to deploy that infrastructure through a regulated reinsurance platform focused on India and the broader Global South. The company said the model is designed to bring together climate, geospatial, satellite, exposure and claims data to improve pricing, portfolio construction and capital allocation.
Malay Kumar Poddar, chief executive of EarthRe, said India would be “the most consequential insurance market over the next two decades” and argued that sustainable growth would require domestic capacity and solutions built for local conditions. The company says EarthRe is being built as a technology-first non-life reinsurer with capabilities across natural catastrophe, climate risk, property, crop and other specialty lines, alongside parametric and structured reinsurance products. Its positioning reflects a broader push by reinsurers in GIFT IFSC, where firms such as Peak Re have already secured licences to operate.
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