About Carnation
Carnation is a company based in Noida (India) founded in 2008 was acquired by Mahindra First Choice Services in December 2018. Carnation has raised $42.71 million across 6 funding rounds from investors including Punjab National Bank, Gaja Capital and Premji Invest. The company has 19 employees as of March 31, 2018. Carnation operates in a competitive market with competitors including Spinny, CarDekho, CarWale, Droom and CarTrade Tech, among others.
- Headquarter Noida, India
- Employees 19 as on 31 Mar, 2018
- Stage Minicorn
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Sectors
Transportation, Automotive & Logistics
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
$378.46 K (USD)-66as on Mar 31, 2018
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Net Profit
-$11.15 M (USD)-1585as on Mar 31, 2018
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EBITDA
-$11.14 M (USD)-1693as on Mar 31, 2018
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Total Equity Funding
$42.71 M (USD)
in 6 rounds
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Latest Funding Round
$113.22 K (USD), Series B
Sep 04, 2015
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Investors
Punjab National Bank
& 6 more
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Employee Count
19
as on Mar 31, 2018
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Acquired by
Mahindra First Choice Services
(Dec 03, 2018)
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Funding Insights of Carnation
Carnation has successfully raised a total of $42.71M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $113.22 thousand completed in September 2015. 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 6
- Last Round Series B — $113,218
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First Round
First Round
(03 Oct 2008)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2015 | Amount | Series B - Carnation | Valuation | Gaja Capital |
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| Aug, 2014 | Amount | Series B - Carnation | Valuation | Premji Invest | |
| Jan, 2014 | Amount | Series B - Carnation | Valuation | Gaja Capital , Premji Invest |
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Investors in Carnation
Carnation has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Punjab National Bank, Gaja Capital and Premji Invest.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investment firm partnering with entrepreneurs in India's domestic economy.
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Founded Year | Domain | Location | |
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Provides venture capital for technology startups and enterprise innovations worldwide.
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Founded Year | Domain | Location | |
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Offers venture capital funds for enterprises, government schemes, and credit operations in India.
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Founded Year | Domain | Location |
Investments & Acquisitions by Carnation
Financial Statements - Carnation
Carnation Comparisons
Competitors of Carnation
Carnation 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 Spinny, CarDekho, CarWale, Droom and CarTrade Tech, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Retailer of inspected, certified pre-owned vehicles with service and finance options
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| domain | founded_year | HQ Location |
Retailer of new automobiles, used vehicles, and related automotive news
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| domain | founded_year | HQ Location |
Second-hand cars are listed online to connect buyers and sellers.
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| domain | founded_year | HQ Location |
Used vehicles are bought and sold through an AI platform.
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| domain | founded_year | HQ Location |
Online marketplace for used cars
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| domain | founded_year | HQ Location |
Online P2P marketplace for used cars
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Frequently Asked Questions about Carnation
Carnation was founded in 2008.
Carnation is headquartered in Noida, India. It is registered at Noida, Uttar Pradesh, India.
Carnation is a funded company, having raised a total of $42.71M across 6 funding rounds to date. The company's 1st funding round was a Series B of $2.44M, raised on Oct 03, 2008.
As of Mar 31, 2018, the latest employee count at Carnation is 19.
Annual revenue of Carnation is $378.46K as on Mar 31, 2018.
Carnation is an online platform that allows users to search for new cars, compare various models of cars based on the preferences and budget of the user, book a test drive etc. Also provides car service (breakdown assistance, accident assistance, free towing) through franchisee network of Carnation outlets. The platform also serves as a point of meeting for buying and selling used cars along with valuation services. Other tools such as EMI calculator, on-road car price, affordability calculator, browsing cars by brand car comparison engine are available for the visitors on the portal. Entered into a strategic partnership with Quikr to offers its car inspection services to the classifieds portal.
Carnation has 7 investors. Key investors include Punjab National Bank, Gaja Capital, Premji Invest, Mahindra First Choice Services, and IFCI Venture Capital Funds.
The valuation of Carnation is $81.7M as of Sep 2015.