Synopsis
Cardekho, which expects to close the ongoing funding round in the next couple of months, will use the resources to expand its e-commerce platform for used cars.
Agencies
Demand for used cars has increased since the beginning of the pandemic, as people looked for personal mobility options to reduce the risk of infection, but at a cheaper cost.
New Delhi: Girnar Software-owned auto portal Cardekho is in talks with investors to raise a minimum of $150 million (about Rs 1,000 crore), in its largest fundraising exercise yet that could take it to the unicorn club.
Cardekho, which expects to close the ongoing funding round in the next couple of months, will use the resources to expand its recently launched e-commerce platform for retailing used cars.
Just 12 unicorns were born in all of 2020, the highest ever for a year in India. 2021 has already seen the birth of 10 startup unicorns in India, including Pharmeasy, Meesho, Cred, Groww, Gupshup and ShareChat last week.