Ƶ

Venture

Autotech Startup CarDekho Lands $70M Series D

Indian autotech startup raised $70 million in its Series D round, according to a statement from the company.

Subscribe to the Crunchbase Daily

CarDekho makes it easier for customers to buy and sell new and used cars and obtain insurance. It’s something of a “one stop shop” for car ownership in India, as customers have a range of services and tools to choose from when they’re looking to buy or sell a car. Though it’s headquartered in Jaipur, India, it also operates with brands in Indonesia and the Philippines.

The company last raised money in January with its $110 million , led by . CarDekho was founded in 2008 and raised its $15 million in 2013. With the new Series D, CarDekho’s total funding comes out to , according to Crunchbase.

The new round was led by , the foreign investment arm of China’s , and marks Ping An’s first investment in India. and also participated in the round.

“Auto services are a core component of Ping An’s ‘finance + ecosystem’ strategy, reflected in our majority shareholding in Autohome in China,” Ping An Global Voyager Fund managing direct and COO Donald Lacey said in a statement. “We have been extremely impressed with the business CarDekho has built in India, particularly its success in developing different types of financial services offerings to address car buyers’ needs.”

The funding news comes on the heels of another growth move by CarDekho: the company acquired auto website just last week for an undisclosed price. Carmudi Philippines marks CarDekho’s third acquisition to date, as CarDekho also bought in 2015 and in 2014.

CarDekho competes with companies like , , and , according to Owler.

Photo courtesy of .

Tags

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

67.1K Followers

CTA

Discover and act on private market opportunities with predictive company intelligence.

Copy link