CarDekho, India’s leading car search venture, has raised $70 million in Series D round funding led by Ping An Global Voyager Fund. With this latest round, CarDekho has managed to raise more than $250 million in funding to date. The company was founded by Amit Jain in 2008.
Apart from Ping An Global Voyager Fund, Sunley House Capital Management, a subsidiary of global private equity firm Advent International, also participated in the round along with existing investors Sequoia India and Hillhouse.
It is understood that the company will use these funds to strengthen its business transaction and expand its international footprint.
Earlier in November, CarDekho had acquired Carmudi an online car classifieds site focusing on emerging markets.
In a media statement, CarDekho CEO and co-founder Amit Jain said, “As a leading full-stack autotech company in India, we at CarDekho are committed to helping consumers throughout their car buying and selling journey. Our unique automobile ecosystem helps us provide compelling value propositions to the consumers and engage with them through our various transaction models at one platform. 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 Group owns and operates CarDekho.com, Gaadi.com, ZigWheels.com, Powerdrift.com, BikeDekho.com, and Indonesia based OTO.com.
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