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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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.
- Total Funding Total Funding
- Total Rounds 12
- Last Round Series G — $329.1M
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First Round
First Round
(25 Nov 2015)
- Investors Count 51
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2021 | Amount | Series G - Cars24 | Valuation | Alpha Wave Global | |
| Nov, 2021 | Amount | Debt – Conventional - Cars24 | Valuation |
investors |
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| Sep, 2021 | Amount | Debt – Conventional - Cars24 | Valuation |
investors |
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| 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 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. 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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Venture capital firm focused on growth-stage companies
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Founded Year | Domain | Location | |
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Venture capital fund focused on multiple sectors
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Founded Year | Domain | Location | |
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Private debt and equity funds are managed for technology sectors.
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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 Cars24
Cars24 has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Team-BHP. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| 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 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Automotive content and user-generated forums for enthusiasts are hosted online.
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2004 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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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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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Cars24
| 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 |
Cars24 Comparisons
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. 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 |
B2B online auctions for car dealers' inventory are facilitated.
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| domain | founded_year | HQ Location |
Used and salvaged vehicles are offered via an online marketplace.
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| domain | founded_year | HQ Location |
Operator of an online platform for vehicle auctions and listing services
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| domain | founded_year | HQ Location |
Online marketplace for used cars
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| domain | founded_year | HQ Location |
Online car buying C2B platform
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| domain | founded_year | HQ Location |
Multi-brand used cars are traded via an online marketplace platform.
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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 Cars24
Frequently Asked Questions about Cars24
When was Cars24 founded?
Cars24 was founded in 2015.
Where is Cars24 located?
Cars24 is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Who is the current CEO of Cars24?
Vikram Chopra is the current CEO of Cars24. They have also founded this company.
Is Cars24 a funded company?
Cars24 is a funded company, having raised a total of $1.08B across 12 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $110M, raised on Nov 25, 2015.
How many employees does Cars24 have?
As of Jun 30, 2023, the latest employee count at Cars24 is 2,473.
What is the annual revenue of Cars24?
Annual revenue of Cars24 is $843.44M as on Mar 31, 2024.
What does Cars24 do?
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.
Who are the top competitors of Cars24?
Cars24's top competitors include ACV Auctions, Copart and CarTrade Tech.
How many acquisitions has Cars24 made?
Cars24 has made 1 acquisition, including Team-BHP.
Who are Cars24's investors?
Cars24 has 51 investors. Key investors include Tencent, Vivriti Capital, SoftBank Group, Peak XV Partners, and Venture Highway VC.
What is Cars24's valuation?
The valuation of Cars24 is $3.23B as of Dec 2021.