Gurugram based auto-tech platform major Cardekho is said to be in talks with a clutch of investors to raise as much as $150million, which would mark its largest fundraising so far and open the doors for its entry into the coveted unicorn club, reports Economic Times.
Owned by Girnar Software which was founded by led by brothers Amit and Anurag Jain in 2008, Cardekho expects to close the latest round of fundraising in the next couple of months. The company plans to use the funds to expand its recently launched e-commerce platform for retailing used cars.
As per Amit, the new platform has made it easier to sell and purchase used cars, and allows the potential buyers to test drive the chosen car for a week and then decide whether or not to buy it. The company is also providing a six-month warranty on engine and transmission, ride-side assistance and financing solutions among other features.
Ib the Series D fundraising, the company had last raised $70 million at a valuation of $725 million in November 2019. The round was led by Hong Kong-based Ping An Global Voyager.