SentinelOne’s deal to acquire PingSafe values the young startup at over $100 million, while insurtech startup Riskcovry said it has raised around $4.5 million in a bridge round.
SentinelOne buys PingSafe for over $100m
SentinelOne’s deal to acquire PingSafe values the Peak XV-backed young startup at over $100 million, TechCrunch reported.
The New York Stock Exchange-listed AI security firm disclosed the cash-and-stock deal to acquire the two-year-old Indian startup last week but didn’t reveal the financial terms.
PingSafe serves customers across multiple geographies and verticals, including notable names like Flipkart, Razorpay, Nasdaq-listed Near Intelligence Inc., Skyflow, Belvilla, Recko (a Stripe Company), and others.
Morphosis Venture Capital, IIFL back Riskcovry
Insurtech startup Riskcovry said it has raised around $4.5 million in a bridge round led by Dubai-based business-to-business fund Morphosis Venture Capital.
Indian financial services player IIFL also participated in this round.
Riskcovry plans to use these funds to push towards profitability and eventually close its Series B round of funding.
The startup, incorporated in 2018, helps businesses enable distribution of insurance products across segments such as health, general, and life to their users.