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Kul Bhushan · · 1 min readIndian used-car marketplace nets $258.6m in new funding
“The Gurugram-based (used car marketplace Cars24) has raised US$258.6 million from eight investors,” Entrackr reported.
Details:
- DST Asia, Alpha Wave Incubation, and Tencent each invested US$75 million into the firm. Moore Strategic Partners chipped in with US$22.7 million.
- Meanwhile, Exor Seeds invested US$8.3 million, HPS Investment Partners’ CEO Scott Kapnick pumped in US$2.2 million, and BloombergSen Investment Partners injected US$472,000.
Dive deeper:
- Cars24 turned into a unicorn in November last year following a DST Global-led US$200 million series E round, which also saw participation from existing investors such as Exor Seeds, Unbound, and Moore Strategic Ventures.
- The online marketplace for used cars is looking to go public in the next 18 to 24 months, according to a recent Bloomberg report.
Editing by Miguel Cordon
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