New Delhi, March 3 (IANS): Shark Tank India has transformed the Indian startup ecosystem, helping budding entrepreneurs in various forms and democratising access to capital, Ankit Agrawal, Founder and CEO, InsuranceDekho, said on Sunday.

Agrawal has also made significant appearances on platforms such as Shark Tank India and has a substantial social media presence.

“The business reality shows have grabbed the eyeballs across age groups; indeed, they have not just gained popularity but have helped budding entrepreneurs in various forms,” he told IANS.

Agrawal said that shows like Shark Tank India have contributed to boosting the entrepreneurial and startup landscape in the country.

“Altogether, they have become a platform democratising access to capital, amplifying visibility and awareness, validating startup ideas, and inspiring aspiring entrepreneurs to pursue their dreams,” the InsuranceDekho CEO stressed.

Agrawal is a mentor and an angel investor on the popular investment show ‘Indian Angels’ on Jio Cinema. He is also the recipient of ‘Bharat Fintech Leader of the Year 2023’.

InsuranceDekho recently joined India’s soonicorn list after raising $150 million which is one of the biggest series A funding (from South Asia) in recent times.

The company clocked Rs 1,930 crore premium in FY23 and is on course to do more than Rs 3,600 crore premium in FY24.

“The insurtech industry is focusing on promoting technology-driven distribution by harnessing the benefits of mobile technology and digital platforms to effectively expand the reach in remote areas,” Agrawal said.

He said that the strengthening the digital initiative with simplification of the application process along with customised solutions can invariably contribute to eliminating the hassles of dealing with lengthy processes.