Indian startup Roadzen, a global auto insurance technology firm powered by artificial intelligence (AI), has achieved a significant milestone by being listed on Nasdaq. The company marked its debut on Nasdaq, with its ordinary shares trading on the Nasdaq Global Market under the symbol “RDZN,” while its warrants are trading on the Nasdaq Capital Market under the symbol “RDZNW.”
Roadzen’s pre-money equity value stands at an impressive $683 million, marking a substantial achievement in its journey. The company will ring the closing bell at Nasdaq in New York City on September 22, 2023.
Built in India with a global perspective, Roadzen is focused on delivering simplified, intelligent, and safer insurance solutions to drivers worldwide. The company sees AI as a transformative force in reshaping the $800 billion auto insurance market and is determined to establish itself as a leader at the intersection of AI, mobility, and insurance.
Roadzen CEO Rohan Malhotra expressed excitement about the potential of AI in revolutionizing the auto insurance industry and its commitment to this mission. He emphasized that going public is a pivotal moment in Roadzen’s journey, and the company remains dedicated to its vision of leveraging AI to make insurance more accessible and efficient for drivers globally.
Malhotra also highlighted the importance of Indian companies competing on a global scale, stating that Indian firms have the potential to create innovative technology solutions that can rival major global tech giants like Facebook, Google, and Meta.
Roadzen has established partnerships with several global automotive players, including Mercedes, Audi, Volvo-Eicher, Mitsubishi, Skoda, Seat, Renault, and Dacia, as well as major insurers like Axa, Societe Generale, and Arch, and fleet companies such as CJ Darcl.
While discussing the role of the government in fostering innovation, Malhotra acknowledged the Indian government’s contributions to the country’s thriving startup ecosystem. He emphasized that the government should focus on maintaining economic growth and macro policies while fostering an environment where startups can thrive and innovate.
