About CarIQ
CarIQ is a company based in Pune (India) founded in 2013 by Rohit Autee, Sagar Apte, and Hrishikesh Nene was acquired by Varroc in August 2019.. CarIQ has raised $16.63 million across 5 funding rounds from investors including Visa, Persistent and Blackberry. The company has 10 employees as of April 10, 2024. CarIQ operates in a competitive market with competitors including ACKO, Webfleet, nesh.live, WIMWIsure and Safehur, among others.
- Headquarter Pune, India
- Employees 10 as on 10 Apr, 2024
- Founders Rohit Autee, Sagar Apte, Hrishikesh Nene
- Stage Minicorn
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Sectors
Transportation, Automotive & LogisticsFinancial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Varroc Connect Private Limited
- Date of Incorporation 11 Jan, 2013
- Jurisdiction Aurangabad, Maharashtra, India
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Annual Revenue
$810.72 K (USD)-50.7as on Mar 31, 2021
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Net Profit
$-29.8 K (USD)93.25as on Mar 31, 2021
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EBITDA
$26.74 K (USD)106.28as on Mar 31, 2021
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Total Equity Funding
$16.63 M (USD)
in 5 rounds
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Latest Funding Round
$15 M (USD), Series B
Aug 11, 2021
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Investors
Visa
& 40 more
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Employee Count
10
as on Apr 10, 2024
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Acquired by
Varroc
(Aug 09, 2019)
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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 Total Funding
- Total Rounds 5
- Last Round Series B — $15.0M
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First Round
First Round
(21 Nov 2013)
- Investors Count 40
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2021 | Amount | Series B - CarIQ | Valuation | Forte Ventures | |
| Aug, 2016 | Amount | Seed - CarIQ | Valuation | Snow Leopard Trust , Chrysalis Business eXchange | |
| Sep, 2014 | Amount | Seed - CarIQ | Valuation | Snow Leopard Trust , Snow Leopard Momentum |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investments are made in US tech companies by Forte Ventures.
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Founded Year | Domain | Location | |
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Venture capital funding is provided by Ally Ventures to startups.
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Founded Year | Domain | Location | |
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Investments in multiple sectors are directed by TELUS Ventures.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by CarIQ
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - CarIQ
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cariq Comparisons
Competitors of CarIQ
CarIQ operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as ACKO, Webfleet, nesh.live, WIMWIsure and Safehur, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Insurance products for vehicles, health, travel, and life are offered.
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| domain | founded_year | HQ Location |
Provides cloud-based fleet management software solutions.
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| domain | founded_year | HQ Location |
Cloud-based fleet intelligence platform is provided for vehicle data analysis.
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| domain | founded_year | HQ Location |
AI-based platform for P&C insurance claims processing is offered.
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| domain | founded_year | HQ Location |
A platform for assessing and quantifying driving risks is provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Cariq
Frequently Asked Questions about CarIQ
When was CarIQ founded?
CarIQ was founded in 2013.
Where is CarIQ located?
CarIQ is headquartered in Pune, India. It is registered at Pune, Maharashtra, India.
Who is the current CEO of CarIQ?
Sagar Apte is the current CEO of CarIQ. They have also founded this company.
Is CarIQ a funded 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 $529.2K, raised on Nov 21, 2013.
How many employees does CarIQ have?
As of Apr 10, 2024, the latest employee count at CarIQ is 10.
What is the annual revenue of CarIQ?
Annual revenue of CarIQ is $810.72K as on Mar 31, 2021.
What does CarIQ do?
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.
Who are the top competitors of CarIQ?
Who are CarIQ's investors?
CarIQ has 41 investors. Key investors include Visa, Persistent, Blackberry, Bridgestone, and Circle K.
What is CarIQ's valuation?
The valuation of CarIQ is $2.06M as of Aug 2016.