CarDekho Group is India’s leading auto-tech company, assisting customers in finding the right automobile for them. The Indian autobiological system has been effectively digitised thanks to CarDekho.
Cardekho, founded in 2008 by Amit and Anurag Jain, is a well-known automobile search company that assists consumers in finding and purchasing suitable new and used cars. ‘Car Dekho’ was founded by two brilliant brothers, Amit and Anurag Jain, from Jaipur, a Tier II city. It continued to be a leader in the automotive classifieds industry.
CarDekho.com has been one of India’s leading automotive search platforms, assisting people in choosing the finest vehicle for their needs. Its website offers professional evaluations, pricing, and comparisons for all the automobile models available in India, as well as videos and images. It has also formed partnerships with over 4000 car dealers, manufacturers, and banking institutions to make vehicle purchases easier.
Cardekho Mission & Vision
CarDekho’s major goal is to create a full ecosystem for vehicle manufacturers, dealers, and customers so that they can use the website not only to buy and sell cars, but also to manage their own ownership experience, including accessories, batteries, insurance, and roadside support.
Cardekho’s development and advancement
CarDekho’s revenue model has been simple and uncomplicated since its inception. They have only had three sources of money up till now; the first is AdSense. Sponsored advertising is the second and most important source. The commission from the corporations and dealers is the last but not least. CarDekho is a single company that oversees the entire process from beginning to end, ensuring that the consumer is happy. As a result, they were able to gather a lot of traffic in a short period of time.CarDekho launched its iOS app a month after its Android version went live on Google Play, racking up 100,000 downloads in that time. In 2014, the number of unique visitors to the web site climbed by twofold, and income increased by thrice. By 2014, they had risen to the top of the market with dignity and a workforce of over 600 people. BikeDekho, PriceDekho, MobileDekho, and a slew of other related web pages were born under the CarDekho umbrella.
Sequoia Capital, located in the United States, provided the group with major funding in 2013. Because of CarDekho’s excellent internet presence, it attracted a large number of businesses for advertising. Gaddi.com and Zigwheels were added to the portfolio in 2014 and 2015, respectively. Without a doubt, CarDekho’s value helped GirnarSoft raise its profile.
CarDekho received far more attention than any other GirnarSoft application development despite the fact that no money was spent on advertising it. It has already surpassed 14 million monthly visitors to become India’s most popular auto stage.GirnarSoft’s parent company’s total assets or net worth is estimated to be $360 million.
Fundings raised by Cardekho
CarDekho, India’s largest vehicle search platform, has raised $250 million in a pre-IPO round that includes $200 million in Series E stock and $50 million in debt. CarDekho has joined the unicorn club with a valuation of $1.2 billion, making it the first unicorn located in Jaipur, Rajasthan.
The money will be utilised to drive CarDekho’s growth in the Used Car transactions, Financial Services, and Insurance industries, as well as to construct robust product and technology functions, improve brand recognition, and expand into new areas.
CarDekho presently acquires automobiles from clients in over 100 countries and has a database of over 3,000 certified pre-owned vehicles available for purchase online. The company plans to extend its Used Car retail transactions operation across the country, with a target of 10,000 automobiles in the near future.
The business intends to open retail hubs across India that would focus on both used car purchases and certified pre-owned automobile retail interactions with customers. The CarDekho team is currently present in India, Indonesia, and the Philippines, with plans to expand internationally with the funds. The company’s car and non-auto goods are now used in over 30 nations across the world.
Mr. Amit Jain, Co-founder and CEO CarDekho said, “CarDekho, from being a car research portal, has evolved to become a complete ecosystem for car buying, lifecycle management, and selling. We are committed to empowering our customers and providing them with a convenient and hassle-free experience. The new fundraiser will help us expand our Used Car transactions and Financial services businesses. The trust and conviction of our investors will help us to accelerate our growth plans whilst we provide our customers with an experience that will continue to re-define car buying and selling.”