CarDekho, the flagship portal of GirnarSoft said it had raised $110 million from various investors. The company intends to utilise the proceeds to expand its business verticals.
The firm has raised the capital in a Series C funding with investments from Sequoia India, Hillhouse, CapitalG (Alphabet growth investment arm) and Axis Bank. “We plan to infuse the raised capital in the used car business, insurance and finance verticals... These segments have huge potential to scale up and we are focussed on getting them to a massive scale,” said CarDekho CEO Amit Jain.