India-based auto portal CarDekho.com closed its $110m Series C funding round.
The round, which valued CarDekho at approx. $400-450m, was led by Sequoia Capital’s global growth fund, with participation from Axis Bank, Hillhouse Capital, RNT Associates, CapitalG, Tybourne Capital, and others.
The company intends to use the capital to grow its new business verticals which include insurance and financing for the used car segment.
CarDekho is a car search portal that allows users to buy cars. Its website and app features automotive content such as expert reviews, detailed specs and prices, comparisons as well as videos and pictures of all car brands and models available in India. The company has tie-ups with many auto manufacturers, more than 4000 car dealers and numerous financial institutions to facilitate the purchase of vehicles.
Founded in 2007 by Amit Jain and Anurag Jain, Jaipur-based Girnar Software Pvt also owns BikeDekho.com, Gaadi.com and TyreDekho.com and BuyingIQ.com.