Used car marketplace Truebil raises $3 mn from Chinese VC fund

CarcrewTruebil, an online marketplace for pre-owned cars, has secured $3 million (about Rs 20 crore) in a follow-on series A funding round from China-based Venture Capital Fund Shunwei Capital. The amount will fund the company’s expansion plans, apart from streamlining its operations. Part of the money raised will also go into skill development and upgrading […]

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Used car marketplace Truebil raises $3 mn from Chinese VC fund

CarcrewTruebil, an online marketplace for pre-owned cars, has secured $3 million (about Rs 20 crore) in a follow-on series A funding round from China-based Venture Capital Fund Shunwei Capital. The amount will fund the company’s expansion plans, apart from streamlining its operations. Part of the money raised will also go into skill development and upgrading […]

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CarDekho FY16 net sales zoom, but losses triple

CarDekhoJaipur-based Girnar Software Pvt Ltd, which owns auto classifieds portals like CarDekho, ZigWheels and Gaadi.com, saw its FY16 sales rise a strong 75 percent, but losses almost tripled as the company spent significantly more on brand marketing. Net sales for FY16 stood at Rs 82.48 crore, up from previous year’s Rs 47.03 crore, filings with […]

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CarTrade raises $55 mn from Singapore’s Temasek, others

Cartrade  Automobile classifieds portal CarTrade.com has raised Rs 370 crore ($55 million) in a funding round led by existing investor Temasek Holdings (Singapore government’s investment firm) and a US family office, a company statement said on Wednesday. CarTrade, however, didn’t disclose the name of the family office. The company will use the funds to make […]

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Used-car marketplace GoZoomo shuts shop, returns remaining capital to investors

Arnav Kumar, CEO, GoZoomoYoungmonk Technologies Pvt. Ltd, which runs online marketplace for pre-owned cars GoZoomo, has decided to shut down operations as the founders failed to carve out a business model with sustainable unit economics. Confirming the development, CEO Arnav Kumar said the company has decided to return the remaining capital to their investors. Upon asked how much […]

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Used car portals on a fundraising spree

carOnline automobile marketplace, especially for used cars and other vehicles, is a fast growing segment that has seen a lot of investments flowing in alongside a few mergers and acquisitions. Enthused by the growing customer base and transactions on these platforms, South African internet and digital media firm Naspers launched its used car platform Stradia.in […]

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There is no scope for a third player in online auto classifieds: CarDekho’s Amit Jain

Jaipur-based Girnar Software Pvt. Ltd, which runs automotive classifieds portal Cardekho.com, is arguably the biggest non-metro startup in India. Its valuation has grown almost eight times in three-and-a-half years to around $380 million when it last raised money in March from Google Capital and Hillhouse Capital. The company–founded by brothers and IIT Delhi alumni Amit […]

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Pre-owned car marketplace HopCar merges with Spinny

cars-by-junaidOnline pre-owned automobile marketplace HopCar has merged its operations with bigger rival Spinny. The merged entity will continue to operate under Spinny’s brand name with the four co-founders of HopCar becoming core team members at Spinny. The merger allows Delhi-based Spinny to further strengthen its position in the Delhi-NCR region and bring greater efficiency to […]

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Droom raises Series B funding from Beenext, Digital Garage and others

droomOnline marketplace for used automobiles Droom has raised an undisclosed amount in its Series B funding round from investors led by venture capital fund Beenext and Japanese internet company Digital Garage. Lightbox, Beenos and other existing investors also participated in this round. Teruhide Sato, founder and former CEO of Japanese e-commerce company and investor firm […]

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