About CarIQ
CarIQ is a Transportation, Automotive & Logistics company based in Pune (India) founded in 2013 by Rohit Autee, Sagar Apte, and Hrishikesh Nene, and was acquired by Varroc in August 2019. Vehicle diagnostics solutions are delivered via a SaaS-based OBD platform. It operates in the Transportation, Automotive & Logistics and Financial Services sectors. CarIQ has raised $16.63 million across 5 funding rounds from investors including Visa, Persistent and Blackberry. The company has 10 employees. CarIQ was last valued at $2.06 million in August 2016. Its chief executive, as recorded, is Sagar Apte. Its Indian entity Varroc Connect Private Limited reported revenue of ₹5.16 Cr. Its focus areas include Consumer, Road Transport Tech, Driver Assistance and Vehicle Telematics. Its competitors include ACKO, nesh.live and WIMWIsure; 3 of its 3 listed competitors have raised funding.
Company details
CarIQ was founded in 2013 in Pune, India, as a SaaS platform focused on vehicle diagnostics. Real-time monitoring is enabled through OBD devices, with features such as car health overviews, location sharing, predictive maintenance alerts, and support for usage-based insurance renewals. Operations center on automotive technology, serving users in the mobility sector across India.
- Headquarters Pune, India
- Employees 10
- Founders Rohit Autee, Sagar Apte, Hrishikesh Nene
- Stage Acquired
- SectorsTransportation, Automotive & LogisticsFinancial Services
- Email••••••••
- Website mycariq.com
- Social LinkedIn X Facebook
- Acquired by Varroc (Aug 2019)
- Legal Name Varroc Connect Private Limited
- Date of Incorporation 11 Jan, 2013
- Jurisdiction Aurangabad, Maharashtra, India
Associated legal entities of CarIQ
CarIQ is associated with 2 registered companies on The Company Check; the primary company is Varroc Connect Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Varroc Connect Private Limited CIN U74900MH2013PTC351817 | Active | 11 Jan 2013 | Aurangabad, Maharashtra | ₹5.2 Cr | 10 | 4 | View details |
| Varroc Engineering Limited Listed CIN L28920MH1988PLC047335 | Active | 11 May 1988 | Aurangabad, Maharashtra | ₹8,921 Cr | 3,750 | 10 | View details |
Funding Insights of CarIQ
CarIQ has successfully raised a total of $16.63M across 5 strategic funding rounds. The most recent funding activity was a Series B round of $15 million completed in August 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $16.63M
- Total Rounds 5
- Last Round Series B — $15M
- First Round $843,183
(Nov 2013)
- Investors Count 40
All 5 funding rounds of CarIQ with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2021 | $15M | Series B | – | Forte Ventures | |
| Aug 2016 | $260,059 | Seed | $2.06M | Snow Leopard Trust, Chrysalis Business eXchange | |
| Sep 2014 | $529,197 | Seed | $1.98M | Snow Leopard Trust, Snow Leopard Momentum | |
| May 2014 | $25,000 | Grant | – | – | |
| Nov 2013 | $843,183 | Seed | – | Snow Leopard Ventures |
| Date | Valuation | Stage |
|---|---|---|
| Aug 2016 | $2.06M | •••••••• |
| Sep 2014 | $1.98M | •••••••• |
Last known valuation $2.06M (Aug 2016). 41 investors in total: 23 institutional and 18 angel.
Investors in CarIQ
CarIQ has secured backing from 41 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Visa, Persistent and Blackberry.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investments are made in US tech companies by Forte Ventures. | forteventures.com | Atlanta, United States | ||
Venture capital funding is provided by Ally Ventures to startups. | ally.com/ventures | Detroit, United States | ||
Investments in multiple sectors are directed by TELUS Ventures. | telus.com/ventures | Vancouver, Canada | ||
Venture capital firm focused on CSAA Insurance Group | avantaventures.com | Mountain View, United States | ||
Corporate venture capital firm backed by Citi | citi.com/ventures | San Francisco, United States | ||
Early-stage tech startups are invested in by Alpana Ventures. | alpana-ventures.ch | Geneva, Switzerland | ||
Early-stage venture capital is provided to US tech startups. | questvp.com | Menlo Park, United States | ||
Venture capital fund investing in early stage companies | scrum.vc | San Francisco, United States | ||
| snowleopardmomentum.tcc.mode | ||||
Tech focused seed & early stage VC firm investing in India | poseventures.com | Singapore, Singapore |
Investor details for CarIQ
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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- Round participation
- Investor portfolios
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Verified entity values are shown only after access is granted.
Board of directors of Varroc Connect Private Limited (CarIQ)
Varroc Connect Private Limited is the primary company behind CarIQ. The boards of the 2 registered companies of CarIQ currently have 9 directors; the longest-serving is Tarang Naresh Jain, appointed in 1988. 35 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Tarang Naresh Jain DIN 00027505 | Managing Director | 11 May 1988 | 38 yrs 5 mo | Varroc Engineering Limited |
| Vinish Kathuria DIN 01951771 | Director | 06 Feb 2018 | 8 yrs 8 mo | Varroc Engineering Limited, Varroc Connect Private Limited |
| Arjun Tarang Jain DIN 07228175 | Whole-time director | 07 Aug 2018 | 8 yrs 2 mo | Varroc Engineering Limited, Varroc Connect Private Limited |
| Dhruv Jain DIN 09710448 | Whole-time director | 01 Sep 2022 | 4 yrs 1 mo | Varroc Engineering Limited, Varroc Connect Private Limited |
| Karumanchi Mahendra Kumar DIN 09571947 | Director | 14 Nov 2022 | 3 yrs 11 mo | Varroc Connect Private Limited |
| Liselott Kilaas DIN 10953529 | Director | 27 Mar 2025 | 1 yr 6 mo | Varroc Engineering Limited |
| Akshaykumar Narendrasinhji Chudasama DIN 00010630 | Director | 29 May 2025 | 1 yr 4 mo | Varroc Engineering Limited |
| Padmanabh Sinha DIN 00101379 | Director | 18 Jul 2025 | 1 yr 3 mo | Varroc Engineering Limited |
| Avinash Ramdas Chintawar DIN 07817177 | Whole-time director | 12 Nov 2025 | 11 mo | Varroc Engineering Limited |
People of CarIQ
7 people are tracked at CarIQ (6 in leadership, 1 in team); the tracked headcount is 10.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder & CEO | Leadership | |
| Co-Founder & CTO | Leadership | |
| CEO | Leadership | |
Ashish Dhandar | Head Of Marketing Communications | Leadership |
Dixit Roy Mahidhara | Chief Executive Officer | Leadership |
Sneha Payyanat | Ui/ux Designer | Team |
Complete people profiles for CarIQ
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Financials of CarIQ
Figures of Varroc Connect Private Limited, the primary company behind CarIQ, for FY 2025. Revenue was ₹5.16 Cr (+63% year on year). Net loss was -₹8.41 Cr (-163% margin). EBITDA was -₹6.90 Cr (-134% margin). Revenue has grown at a compounded annual rate of -9% over three years and -16% over five years.
- ₹5.16 CrRevenue · FY 2025 · +63% YoY
- -₹8.41 CrNet loss · -163% margin
- -₹6.90 CrEBITDA · -134% margin
- ₹3.3 LakhPaid-up capital
- 10Employees (provident fund records)
- -9%Revenue CAGR, 3 years
- -16%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Varroc Connect Private Limited are on its company page.
Detailed financial statements for CarIQ
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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- Downloads
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Timeline of CarIQ
5 dated milestones of CarIQ across 8 years, from founding to its latest funding, stage changes and deals.
- Founded CarIQ is founded.
- Funding First funding round of $843K.
- Milestone Reaches Minicorn status.
- Exit Acquired by Varroc.
- Funding Latest funding round, Series B, of $15.0M.
Competitors of CarIQ
CarIQ has 3 listed competitors in our database, 3 of them funded. They include ACKO, nesh.live and WIMWIsure.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| acko.com | 2016 | Bengaluru, India | $746.17M | 1,261 | Insurance products for vehicles, health, travel, and life are offered. | |
| nesh.live | 2012 | Chennai, India | $115,188 | 1,105 | Cloud-based fleet intelligence platform is provided for vehicle data analysis. | |
| wimwisure.com | 2017 | Ahmedabad, India | $374,604 | 2 | AI-based platform for P&C insurance claims processing is offered. |
Detailed competitors of CarIQ
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of CarIQ
Websites that share an audience with CarIQ (mycariq.com).
Websites whose visitors overlap most with CarIQ. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| automatic.com | 100% | View details | |||
| divx.com | 100% | 286.6K | #150,765 | View details | |
| engadget.com | 80% | 6.8M | #12,531 | View details | |
gateway.zscaler.net | gateway.zscaler.net | 60% | – | ||
| ptt.cc | 60% | #734 | View details | ||
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 9 similar websites and full traffic analytics for CarIQ
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- 9 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in Automotive Retail & Aftersales
3 companies that operate in the same segment as CarIQ (Automotive Retail & Aftersales) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
General and life insurance products are provided across multiple categories. | 2016 | Bengaluru, Karnataka, India | USD 462.45 M | USD 1.12 B | 4,589 | |
Insurance products for vehicles, health, travel, and life are offered. | 2016 | Bengaluru, Karnataka, India | USD 746.17 M | USD 216.04 M | 1,306 | |
Retailer of inspected, certified pre-owned vehicles with service and finance options | 2015 | Gurugram, Haryana, India | USD 741.46 M | USD 446.48 M | 5,812 |
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Related news about Cariq
Complete news archive for CarIQ
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Frequently Asked Questions about CarIQ
CarIQ was founded in 2013.
CarIQ is headquartered in Pune, India. It is registered at Pune, Maharashtra, India.
Sagar Apte is the CEO of CarIQ, as recorded in our data. They have also founded this company.
CarIQ is a funded company, having raised a total of $16.63M across 5 funding rounds to date. The company's 1st funding round was a Seed of $843.18K, raised on Nov 2013.
CarIQ has 10 employees.
The primary company behind CarIQ, Varroc Connect Private Limited, reported revenue of ₹5.16 Cr for FY 2025, up 63% year on year.
CarIQ was founded in 2013 in Pune, India, as a SaaS platform focused on vehicle diagnostics. Real-time monitoring is enabled through OBD devices, with features such as car health overviews, location sharing, predictive maintenance alerts, and support for usage-based insurance renewals. Operations center on automotive technology, serving users in the mobility sector across India.
CarIQ has 41 investors. Key investors include Visa, Persistent, Blackberry, Bridgestone, and Circle K.
The valuation of CarIQ is $2.06M as of Aug 2016.
CarIQ is associated with 2 legal entities: Varroc Connect Private Limited, Varroc Engineering Limited.
Yes. CarIQ was acquired by Varroc in August 2019.