About Cars24
Cars24 is a company based in Gurugram (India) founded in 2015 by Ruchit Agrawal, Gajendra Jangid, Mehul Agrawal, and Vikram Chopra. Cars24 has raised $1.08 billion across 12 funding rounds from investors including Tencent, Vivriti Capital and SoftBank Group. The company has 2,473 employees as of June 30, 2023. Cars24 has completed 1 acquisition, including Team-BHP. Cars24 operates in a competitive market with competitors including ACV Auctions, Copart, CarTrade Exchange, CarTrade Tech and SellAnyCar.com, among others.
- Headquarter Gurugram, India
- Employees 2473 as on 30 Jun, 2023
- Founders Ruchit Agrawal, Gajendra Jangid, Mehul Agrawal, Vikram Chopra
- Stage Unicorn
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Sectors
Transportation, Automotive & Logistics
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Email
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Phone
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Website
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Social
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Annual Revenue
$843.44 M (USD)25as on Mar 31, 2024
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Net Profit
-$60.21 M (USD)-7as on Mar 31, 2024
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EBITDA
-$21.87 M (USD)36as on Mar 31, 2024
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Total Equity Funding
$1.08 B (USD)
in 12 rounds
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Latest Funding Round
$329.1 M (USD), Series G
Dec 20, 2021
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Investors
Tencent
& 50 more
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Employee Count
2473
as on Jun 30, 2023
- Investments & Acquisitions
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People of Cars24
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Software Development Team
73 people
Product Management Team
31 people
Leadership Team
26 people
Sales and Marketing
19 people
Finance and Accounting
17 people
Team Team
15 people
Senior Team
13 people
Operations Team
10 people
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Funding Insights of Cars24
Cars24 has successfully raised a total of $1.08B across 12 strategic funding rounds. The most recent funding activity was a Series G round of $329.1 million completed in December 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.
Investors in Cars24
Cars24 has secured backing from 51 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Tencent, Vivriti Capital and SoftBank Group.
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Venture capital firm focused on growth-stage companies
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Venture capital fund focused on multiple sectors
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Private debt and equity funds are managed for technology sectors.
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Investor details for Cars24
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Investments & Acquisitions by Cars24
Cars24 has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Team-BHP.
Investment portfolio details for Cars24
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- Portfolio identities
- Transaction dates
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Automotive content and user-generated forums for enthusiasts are hosted online.
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Complete acquisition details for Cars24
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- Transaction dates
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Financial Statements - Cars24
Detailed financials for Cars24
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Cars24 Comparisons
Peer comparison for Cars24
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Competitors of Cars24
Cars24 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 ACV Auctions, Copart, CarTrade Exchange, CarTrade Tech and SellAnyCar.com, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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B2B online auctions for car dealers' inventory are facilitated.
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Used and salvaged vehicles are offered via an online marketplace.
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Operator of an online platform for vehicle auctions and listing services
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Online marketplace for used cars
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Online car buying C2B platform
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Multi-brand used cars are traded via an online marketplace platform.
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Detailed competitors of Cars24
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Latest news on Cars24
Complete news archive for Cars24
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- Older coverage
- Brand-specific news history
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Frequently Asked Questions about Cars24
Cars24 was founded in 2015.
Cars24 is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Vikram Chopra is the current CEO of Cars24. They have also founded this company.
Cars24 is a funded company, having raised a total of $1.08B across 12 funding rounds to date.
As of Jun 30, 2023, the latest employee count at Cars24 is 2,473.
Annual revenue of Cars24 is $843.44M as on Mar 31, 2024.
Cars24 was founded in 2015 and is headquartered in Gurugram, India. An online platform is operated in the automotive sector, where used vehicles are listed and sold by owners through inspection appointments, pricing algorithms, and payment processing. Buyers access quality-checked cars with warranty and documentation support. Financing and insurance options are integrated for complete transactions and after-sales services.
Cars24's top competitors include ACV Auctions, Copart and CarTrade Tech.
Cars24 has made 1 acquisition, including Team-BHP.
Cars24 has 51 investors. Key investors include Tencent, Vivriti Capital, SoftBank Group, Peak XV Partners, and Venture Highway VC.
The valuation of Cars24 is $3.23B as of Dec 2021.