Droom, a Gurugram-based online marketplace for second hand cars, has started an Internet of Things (IoT) enabled Eco Lab. The purpose of the launch is to bring in new innovations for Eco Inspection, which provides inspection services for those purchasing used vehicles.
Also, the Eco Lab will provide other services in large fleet management.
“After setting up the AI lab to evolve orange book value (OBV) and build newer state-of-the-art tools, we wanted to leverage the technologies to innovate our Eco Inspection tool further. Our aim is to keep our customers free from the stress of dealing with strangers when buying used vehicles,” Rupendra Singh, vice-president of Certification services at Droom, said.
Droom was founded by Sandeep Aggarwal in 2014. The Gurugram-headquartered company claims that buyers will not only get vehicles at a low-price, but also receive an all-inclusive report of it.
So far, Droom has inspected over 90,000 vehicles across 800 cities and targets to achieve 7, 50,000 inspections by the end of 2019.
It has employed more than 5,000 ‘Eco Ninjas’ who are technicians working on the inspection. The startup claims that it follows an extensive verification and background check before technicians are certified.
While, the company stated, “At the Eco Lab, we are constantly evolving and bringing forth newer innovations in Eco Inspection using AI technology, and On-board diagnostics (OBD) devices for an extensive car check-up. We ensure that only the best of professionals go on to provide the services.”
The company also claims to be the third largest e-commerce company in the country with over 80 per cent market share in online automobile transactions, and the biggest auto-dealer platform in the world.
The existing investors of the company includes Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, and others.
Besides, other automobile platform present online in the similar domain includes CarTrdae, Cars24, Cardekho, Carnation, Carwale, Quikr, Olx, etc.