CarDekho Funding: Raises 70 million Dollars
CarDekho raises 70 million Dollars in series D led by Ping An
In the series D round led by Ping An (a Chinese investor), CarDekho an online automotive portal raises 70 million Dollars. Ping An holds majority shareholder in Autohome which is a Chinese leading online automobile portal. Ping An Insurance is known as Ping An of China is an insurance company that mainly deals in insurance, banking, and financial services.
“With the latest fundraise, we will continue to strengthen our domestic and international businesses and will aggressively work towards becoming the largest personal mobility ecosystem in the country,” CarDekho CEO and co-founder Amit Jain said
Founder of StartupLanes, Shishir Gupta says: CarDekho provides an easy way to Indian consumers to experience a real view of cars while sitting at home. It ease in decision making by comparing the models, offers, etc. It will also help people in rural India to buy and the vehicle ensuring greater customer experience. With these innovations our lives has become effortless and trouble free. There is a plenty of scope in Indian automobile sector which is attracting not only Indian investors but also investors from outside India. India is expected to be the third largest in the world by 2026. It shares 7.5% share in India’s GDP. These startups are boon for India for achieving the India’s aim of Digital India.
Autohome Inc. is the leading online portal for automobile customers in China. It provides professionally produced and user-generated content, a comprehensive automobile library, and extensive automobile listing information to automobile consumers, covering the entire car purchase and ownership cycle. It aims to engage, educate and inform auto consumers in China with everything they need to know about buying, using and selling cars.
2008 marked the foundation for CarDekho.com. It is India’s leading car portal that helps buyers to buy cars. It also includes expert reviews, specs, and prices & comparisons with videos and pictures of all car brands and models available in India. The company has tie-ups with more than 4000 dealers and many financial institutions. It provides a 360 degree view of cars which includes sounds of cars, an explanation of features of interior and exterior with live offers in all cities. It also enables users to sell their cars and to buy used cars. So it provides a complete ecosystem to users not just buying and selling but also helps users to manage the accessories, tires, batteries, insurance, etc. the company has also expanded to Southeast Asia with the launch of Zigwheels.ph, Zigwheels.my and oto.com. It also has its presence in UAE as Zigwheels.ae. The company also launched in Indonesia in 2016 by the name of OTO.com.
The automobile industry of India is the fourth largest in the world. The industry is expected to reach Rs. 16.16 to 18.18 trillion by 2026. Indian startups are bringing innovation inbuilt, driven, buying and selling of vehicles. There are plenty of startups in this are like CarZippi,MeriCar.com, Autoyaar, Spinny, Droom, etc.