7 unicorn CEOs fund Indian-origin entrepreneur’s Brazilian startup

Written by: Our Bureau

(Our Bureau, May 31)  Meet Dhaval Chadha, an Indian-origin serial entrepreneur whose Brazil-based venture Justos just got backed by CEOs of seven unicorns. The eight-month-old Justos uses sensors on people’s cell phones to measure driving behavior and determine the cost of auto insurance premiums, a relatively new concept in Brazil where 70% of cars are not insured. It raised $2.8 million in a seed round led by VC firm Kaszek with participation from Hippo Insurance CEO Assaf Wand, Creditas CEO Sergio Furio and ClassPass CEO Fritz Lanman, besides four other unicorn leaders. “Road accidents will reduce drastically as a result of incentives for safer driving, and the streets will be safer,” the San Francisco-based Chadha told Techcrunch. Prior to starting Justos with his friends Jorge Soto Moreno and Antonio Molins, the Harvard-educated Chadha worked as Head of Latin America expansion at ClassPass. He had also founded online workouts app Vivo (sold to ClassPass), VC firm Pipa and strategy consulting firm Cria Global.

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