Jaipur-based CarDekho bags ₹132.25 cr in Series C from clutch of investors

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CarDekho, an online marketplace for new and used cars, based out of Jaipur, has bagged ₹132.95 crore as part of its series C round led by SC GG India Mobility Holdings LLC. While, Hillhouse and Kreatif Media Karya also participated in the round.

According to sources, the portal has issued 23,497 series C compulsory convertible preferences shares (CCPS), on July 23, at a premium of ₹56,575 per share.

Akansh Sinha, Co-founder of Gaadi.com, part of Girnarsoft, said that the CarDekho Group is expected to double its revenue to about Rs 700 crore during the current fiscal from Rs 360 crore last year.

CarDekho was founded by Amit Jain and Anurag Jain in 2005. It provides a platform for users to search for used and new cars, along with providing them with detailed reviews to help them choose the right car.

Significantly, in January 2019, CarDekho had announced its Series C fundraise of $110 million from Sequoia India, Hillhouse, CapitalG, and Axis Bank.

Adding on, in June 2019, the CarDekho Group announced its foray into the motor and health insurance sector by launching InsuranceDekho.

The platform claims to have a monthly traffic of 73 million visitors, with 39 million monthly unique visitors.

Whereas, till date, the company has raised a total funding of around $200 million, and is said to be valued at around $500 million.

CarDekho has raised a total funding of around $200 million till date, and is said to be valued at around $500 million.

Some of the startups with similar objectives includes NDTV Auto, CarTrade, Cars24, OLX, Quikr, and Droom.

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