About Mahindra First Choice
Mahindra First Choice is a company based in Mumbai (India) founded in 1994 by Anand Gopal Mahindra.. Mahindra First Choice has raised $72.26 million across 5 funding rounds from investors including Mahindra, Cox Automotive and Sanjay Labroo. The company has 1,069 employees as of April 03, 2024. Mahindra First Choice has completed 1 acquisition, including Carandbike. Mahindra First Choice offers products and services including Used Cars Sales, Car Inspections, Auctions, and Financing. Mahindra First Choice operates in a competitive market with competitors including Spinny, CarDekho, CarWale, Droom and CarTrade Tech, among others.
- Headquarter Mumbai, India
- Employees 1069 as on 03 Apr, 2024
- Founders Anand Gopal Mahindra
- Stage Minicorn
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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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- Legal Name Mahindra First Choice Wheels Limited
- Date of Incorporation 22 Dec, 1994
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$133.84 M (USD)30.14as on Mar 31, 2023
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Net Profit
$-13.29 M (USD)-248.76as on Mar 31, 2023
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EBITDA
$-13.46 M (USD)-293.24as on Mar 31, 2023
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Total Equity Funding
$72.26 M (USD)
in 5 rounds
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Latest Funding Round
$31.74 M (USD), Series C
Apr 25, 2022
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Investors
Mahindra
& 11 more
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Employee Count
1069
as on Apr 03, 2024
- Investments & Acquisitions
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Products & Services of Mahindra First Choice
Mahindra First Choice offers a comprehensive portfolio of products and services, including Used Cars Sales, Car Inspections, Auctions, and Financing. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for buying certified pre-owned vehicles with inspections.
Expert evaluations ensuring vehicle quality and reliability.
Online and in-person bidding for used cars.
Loans and EMI options for purchasing used vehicles.
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Funding Insights of Mahindra First Choice
Mahindra First Choice has successfully raised a total of $72.26M across 5 strategic funding rounds. The most recent funding activity was a Series C round of $31.74 million completed in April 2022. 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 C — $31.7M
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First Round
First Round
(20 Mar 2015)
- Investors Count 12
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2022 | Amount | Series C - Mahindra First Choice | Valuation | Mahindra | |
| Oct, 2021 | Amount | Series C - Mahindra First Choice | Valuation | Mahindra | |
| Oct, 2020 | Amount | Series C - Mahindra First Choice | Valuation |
investors |
| 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 Mahindra First Choice
Mahindra First Choice has secured backing from 12 investors, including angel, institutional, and venture fund investors. Prominent investors backing the company include Mahindra, Cox Automotive and Sanjay Labroo. 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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Private equity fund focused on multiple sectors
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Founded Year | Domain | Location | |
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Venture capital investments are directed toward multiple sectors.
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Founded Year | Domain | Location | |
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Diversified operations span automotive, agriculture, and financial services.
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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 Mahindra First Choice
Mahindra First Choice has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Carandbike. 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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Online auto portal for buying/selling and new car research
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2015 |
| 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 - Mahindra First Choice
| 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 |
Mahindra First Choice Comparisons
Competitors of Mahindra First Choice
Mahindra First Choice 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. 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 |
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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| 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 Mahindra First Choice
Frequently Asked Questions about Mahindra First Choice
When was Mahindra First Choice founded?
Mahindra First Choice was founded in 1994 and raised its 1st funding round 21 years after it was founded.
Where is Mahindra First Choice located?
Mahindra First Choice is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Who is the current CEO of Mahindra First Choice?
Ashutosh Sudhakar Pandey is the current CEO of Mahindra First Choice.
Is Mahindra First Choice a funded company?
Mahindra First Choice is a funded company, having raised a total of $72.26M across 5 funding rounds to date. The company's 1st funding round was a Series C of $1.89M, raised on Mar 20, 2015.
How many employees does Mahindra First Choice have?
As of Apr 03, 2024, the latest employee count at Mahindra First Choice is 1,069.
What is the annual revenue of Mahindra First Choice?
Annual revenue of Mahindra First Choice is $133.84M as on Mar 31, 2023.
What does Mahindra First Choice do?
Mahindra First Choice was founded in 1994 in Mumbai, India, within the automotive sector. An online platform is operated for multi-brand used cars, where certified vehicles can be searched and booked by buyers. Sellers are enabled to schedule inspections, obtain quotes, and list cars for sale. Non-moving spare parts are liquidated through the digital system for car servicing products, supporting organized transactions in the used vehicle market.
Who are the top competitors of Mahindra First Choice?
What products or services does Mahindra First Choice offer?
Mahindra First Choice offers Used Cars Sales, Car Inspections, Auctions, and Financing.
How many acquisitions has Mahindra First Choice made?
Mahindra First Choice has made 1 acquisition, including Carandbike.
Who are Mahindra First Choice's investors?
Mahindra First Choice has 12 investors. Key investors include Mahindra, Cox Automotive, Sanjay Labroo, Brijmohan Kataria, and Manheim.
What is Mahindra First Choice's valuation?
The valuation of Mahindra First Choice is $340.12M as of Apr 2022.