Droom, an Indian online automobile marketplace, raised $16m (Rs 100 crore) in funding.
Backers included Lightbox Ventures and Japanese internet firm Beenos.
The compay will use the funds to continue to expand operations.
Led by Sandeep Aggarwal, Droom is a mobile marketplace to buy and sell new and used automobiles. The company leverages technology and data to remove impediments why a transaction between two unknown people may not take place by allowing buyers to get a huge selection of opportunities, low prices, and develop trust while sellers get access to online shoppers, and a stack of tools and e-commerce services to self-manage their online store.
The company has a team of 50+ in offices in Gurgaon (India) and Silicon Valley (USA).