StageSeed VC | Alive
SheerDrive offers a digital used-car platform to optimize the consumer buying experience. It offers a b2b multibrand exchange platform, remarketing solutions, vehicle scan, pricing algorithm, vehicle part review and grading dashboard, and more. The company was founded in 2019 and is based in Mumbai, India.
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Expert Collections containing SheerDrive
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
SheerDrive is included in 1 Expert Collection, including E-Commerce.
Latest SheerDrive News
Jan 16, 2023
Sheerdrive had earlier in Dec 2020 closed its undisclosed seed round funding with Group Landmark. 96 Views Share - Mumbai-based digital used vehicle remarketing platform Sheerdrive has said that it has raised its undisclosed pre-Series A round led by JITO Angel Network, Group Landmark, and Colorado Venture Fund. The digital marketing platform which claims to have already enabled used-car transactions worth over $40 million, is estimated to be growing to deliver 41% Q-o-Q growth with being unit-economics positive. Sheerdrive had earlier in Dec 2020 closed its undisclosed seed round funding with Group Landmark. Ravi Mehra, CEO, and Co-founder, Sheerdrive sharing the fundraising announcement said "The funding will help us expand into new geographies and elevate the tech stack for New Car Dealerships to unlock value in used car transactions". The firm which claims to have a GMV ARR of $500 million and transactions for over 100,000+ vehicles across 35 cities by FY2025 is looking to carve a niche for itself by resolving the problems of dealing with pre-owned cars and bringing about much-needed infrastructure to car dealerships. "We believe that automotive dealerships would see significant disruption over the medium to long term driven by a few critical factors, such as shifting customer preferences and digital disruptions across the automotive value chain," added Pooja Mehta, Chief Investment Officer, JITO Angel Network, sharing their perspective on investing in the online used car remarketing platform.
SheerDrive Frequently Asked Questions (FAQ)
When was SheerDrive founded?
SheerDrive was founded in 2019.
Where is SheerDrive's headquarters?
SheerDrive's headquarters is located at Terminal 9, Next to Orchid Hotel, , Near Chhatrapti Shivaji International Airport, Vile Parle (East), Mumbai.
What is SheerDrive's latest funding round?
SheerDrive's latest funding round is Seed VC.
Who are the investors of SheerDrive?
Investors of SheerDrive include Landmark Group, JITO Angels and Greater Colorado Venture Fund.
Who are SheerDrive's competitors?
Competitors of SheerDrive include Landmark Group and 4 more.
Compare SheerDrive to Competitors
Spinny operates as a pre-owned car trading platform. It allows users to select cars online and book a test drive. It helps its customers to purchase a vehicle that matches their needs. It was founded in 2015 and is based in Gurugram, India.
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.
CredR is an online marketplace for listing and purchasing verified, pre-owned vehicles. It offers doorstep bike servicing, inspection services, appointment scheduling, and more. The company was founded in 2015 and is based in Bengaluru, India.
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.
VavaCars is a platform that facilitates the buying and selling of used cars. It allows customers to browse and purchase cars online from the comfort of their homes, as well as sell their cars with its online valuation process, by visiting its customer centers, or by arranging a mobile unit visit. The company was founded in 2019 and is based in Istanbul, Turkey.
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.
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