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.
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Research containing CarDekho
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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.
Unicorns- Billion Dollar Startups
Future Unicorns 2019
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.
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
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Latest CarDekho News
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
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.
Compare CarDekho to Competitors
Spinny is an online-to-offline platform for used car buyers in India that allows users to select cars online and book a test drive at a Spinny Car Hub.
Cars24 is a hybrid used car trading platform offering both online and offline services. The site and app enable both the selling of used cars and used two-wheeled motorbikes.Cars24 buys, fixes, and then resells vehicles, meaning it appraises vehicles from sellers, buys them up for an agreed upon price if possible, and fixes/reconditions them so that they can deliver them to purchasers.
Droom is an online marketplace for buying and selling new and used automobiles. Droom has built-in tech and data science tools to create an entire eco-system around used automobiles.
Craigslist is a classifieds service with local classifieds and forums for more than 550 cities in over 50 countries worldwide. The classifieds are moderated and generally free and target jobs, housing, goods, services, romance, local activities, and advice.
Quikr is an online classifieds company that helps people buy, sell, and rent in categories such as furniture, mobile phones, cars & bikes, services, pets, real estate, jobs, education, entertainment, matrimonial, and more. Users can post free ads and reply to ads on Quikr in cities. Quikr's classifieds websites allow users to post free ads, find what they are looking for, and address regular needs by connecting people in a faster, simpler, and easier way.
InstaCarro is an online platform where users can sell used cars. The company promises to make an accurate assessment of the vehicles and sell cars through an online auction to bid to ensure a competitive price.
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