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CarDekho

cardekho.com

Founded Year

2008

Stage

Debt - II | Alive

Total Raised

$536.1M

Valuation

$0000 

Last Raised

$50M | 1 yr ago

Revenue

$0000 

Mosaic Score
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

+40 points in the past 30 days

About CarDekho

CarDekho is an Indian auto portal that helps its users with car research, finance, insurance, used cars and any other aspect of car buying and selling. The company has tie-ups with many auto manufacturers, car dealers and numerous financial institutions to facilitate the purchase of vehicles.

Headquarters Location

JTM, Model Town Near Jagatpura Flyover

Jaipur, 302017,

India

1800 200 3000

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Research containing CarDekho

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned CarDekho in 2 CB Insights research briefs, most recently on Feb 24, 2022.

Expert Collections containing CarDekho

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

CarDekho is included in 6 Expert Collections, including E-Commerce.

E

E-Commerce

9,879 items

U

Unicorns- Billion Dollar Startups

1,201 items

F

Future Unicorns 2019

50 items

A

Auto Commerce

539 items

Companies involved in the rental, selling, trading, or purchasing of cars, RVs, trucks, and fleets, including auto financing companies, vehicle auction services, online classified advertising companies with a focus on auto, and dealership software platforms.

I

Insurtech

3,561 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

F

Fintech

3,189 items

Track and capture company information and workflow.

Latest CarDekho News

Goldman, TVS Capital may lead $150 mn round in Insurance Dekho

Nov 22, 2022

MUMBAI : Goldman Sachs and TVS Capital are in advanced talks to lead a $150 million investment in used cars unicorn CarDekho’s insurance unit InsuranceDekho, two people aware of the matter said, in what is expected to be the biggest Series A funding round in India. The company is likely to be valued at $450-500 million in the funding round, said one of the two people cited above, both of whom spoke on condition of anonymity. “The documents have been signed, with only the insurance regulator’s approval pending," the second person said, adding other funds, too, will join the round, which will be primarily an equity raise. Ltd, was founded in 2017. The company, led by founder and chief executive officer Ankit Agrawal, may record annualized premium collection of around ₹3,600 crore in FY23, the first person said. “The company is looking to use the funds for geographical expansion, beef up its tech platform, hire people and expand its product portfolio," a third person aware of the company’s plans said. InsuranceDekho reported net sales and loss of ₹47.9 crore and ₹72.2 crore in FY22 against ₹29.7 crore sales ₹46.4 crore loss the year before, according to VCCEdge. Spokespeople for InsuranceDekho and Goldman Sachs declined to comment, while TVS Capital did not respond to a request for comment. This is the first institutional investment in InsuranceDekho, which was internally incubated and funded by parent CarDekho. It last raised $250 million as a part of its pre-IPO round at approximately $1.2 billion valuation. It laid off 200 employees in August to cut costs amid a wider investment slowdown. However, the Indian used car market, currently valued at $23 billion, is projected to grow at double its current rate of expansion, at a CAGR of 19.5% till FY26-27, according to a Mint report on 22 September. A research report by JP Morgan on 14 November on the global auto industry said the rise in car prices because of inflation and supply chain issues had resulted in a spike in used car prices. “Average prices were up by 42.5% in September 2022 versus February 2020," the report said, adding that, however, “in 2023, prices are expected to decline by 2.5% to 5% for new cars and by 10% to 20% for used cars." CarDekho, operated by Girnar Software Pvt. Ltd, reported net sales of ₹884.3 crore in FY21 and a loss of ₹342.8 crore. FY22 financials were not available. CarDekho also said on 7 November that it is investing $100 million into its lending subsidiary Rupyy. Multiple insuretech businesses, such as InsuranceDekho, have been in the market to raise capital. After raising $255 million in October last year at a valuation of $1.1 billion, General Atlantic–backed digital insurer Acko General Insurance Pvt. Ltd is also reportedly in the market to raise a new round. Fairfax-backed GoDigit General Insurance Pvt. Ltd has been evaluating an initial public offering, while Renewbuy is looking to raise $100 million, Mint reported earlier. Insuretech businesses are expecting rapid growth as much of the Indian market is currently untapped. A Redseer report in June said that digital insurance in the US stands at 14% of the population, 6% in China, and a mere 2% in India. ABOUT THE AUTHOR

CarDekho Web Traffic

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CarDekho Frequently Asked Questions (FAQ)

  • When was CarDekho founded?

    CarDekho was founded in 2008.

  • Where is CarDekho's headquarters?

    CarDekho's headquarters is located at JTM, Model Town, Jaipur.

  • What is CarDekho's latest funding round?

    CarDekho's latest funding round is Debt - II.

  • How much did CarDekho raise?

    CarDekho raised a total of $536.1M.

  • Who are the investors of CarDekho?

    Investors of CarDekho include Sequoia Capital India, Sunley House Capital Management, Franklin Templeton, Canyon Partners, LeapFrog Investments and 19 more.

  • Who are CarDekho's competitors?

    Competitors of CarDekho include Cars24 and 4 more.

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