Droom raised $200Mn in first phase of pre-IPO round at $1.2Bn valuation
Droom, an online automobile marketplace, has finished the first phase of its pre-IPO fundraising round worth close to $200 million, valuing the company at $1.2 billion, marking it as a newbie to the unicorn club. The company hopes to go public in 2022 and will be traded either in India or on the Nasdaq.
Source: Inventiva Magazine via YouTube
The fundraising round was led by new investors 57 Stars and Seven Train Ventures, as well as a number of existing investors such as Lightbox, Beenext, Digital Garage, and Toyota Tsusho Corporation, among others. Droom stated in a press release that the capital will be used to expand its services across India as well as on global markets together along with improving last-mile deliveries.
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Droom closes first leg of pre-IPO funding round of up to $200 mn
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