About MyNewCar
MyNewCar is a company based in Mumbai (India) founded in 2014 by Juergen Thom.. MyNewCar has raised $2.11 million across 6 funding rounds from investors including GreenCom Networks, M.B. Finmart and Rajiv M Sanghvi. The company has 9 employees as of April 06, 2024. MyNewCar offers products and services including Car Buying Service, Car Leasing Service, and Car Subscription Service. MyNewCar operates in a competitive market with competitors including AckoDrive, 91Wheels, BMW Bird Automotive, vLer and AutoBox, among others.
- Headquarter Mumbai, India
- Employees 9 as on 06 Apr, 2024
- Founders Juergen Thom
- 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
*********
- Legal Name Dreamz Mynewcar India Private Limited
- Date of Incorporation 25 Nov, 2014
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
$28.58 K (USD)2.98as on Mar 31, 2023
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Net Profit
$-19.49 K (USD)83.95as on Mar 31, 2023
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EBITDA
$-14.32 K (USD)87.32as on Mar 31, 2023
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Total Equity Funding
$2.11 M (USD)
in 6 rounds
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Latest Funding Round
$323.28 K (USD), Seed
Jan 28, 2020
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Investors
GreenCom Networks
& 24 more
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Employee Count
9
as on Apr 06, 2024
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Products & Services of MyNewCar
MyNewCar offers a comprehensive portfolio of products and services, including Car Buying Service, Car Leasing Service, and Car Subscription Service. 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.
Service for purchasing new cars online with price comparisons
Platform for leasing cars with flexible payment options
Option for subscribing to cars on a short-term basis
Funding Insights of MyNewCar
MyNewCar has successfully raised a total of $2.11M across 6 strategic funding rounds. The most recent funding activity was a Seed round of $323.28 thousand completed in January 2020. 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 Seed — $323,282
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First Round
First Round
(11 May 2015)
- Investors Count 25
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2020 | Amount | Seed - MyNewCar | Valuation | Conny & Co | |
| Dec, 2018 | Amount | Seed - MyNewCar | Valuation | Rajiv M Sanghvi | |
| Apr, 2018 | Amount | Seed - MyNewCar | Valuation | GreenCom Networks |
| 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 MyNewCar
MyNewCar has secured backing from 25 investors, including institutional, angel, and venture fund investors. Prominent investors backing the company include GreenCom Networks, M.B. Finmart and Rajiv M Sanghvi. 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 fund focused on multiple sectors
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Founded Year | Domain | Location | |
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Venture capital investments are made in early-stage global companies.
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Founded Year | Domain | Location | |
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Tech focused startup builder studio in India
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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 MyNewCar
| 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 - MyNewCar
| 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 |
Mynewcar Comparisons
Competitors of MyNewCar
MyNewCar 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 AckoDrive, 91Wheels, BMW Bird Automotive, vLer and AutoBox, 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 |
Provides automotive news, reviews, prices, and online car purchasing options.
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| domain | founded_year | HQ Location |
Online platform for car, bike, and scooter listings and comparisons in India.
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| domain | founded_year | HQ Location |
BMW dealership providing new cars, servicing, financing, and test drives in India.
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| domain | founded_year | HQ Location |
Rich online listings for new passenger vehicles are provided.
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| domain | founded_year | HQ Location |
Mobile app that enables purchase of new vehicles
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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 Mynewcar
Frequently Asked Questions about MyNewCar
When was MyNewCar founded?
MyNewCar was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Where is MyNewCar located?
MyNewCar is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Is MyNewCar a funded company?
MyNewCar is a funded company, having raised a total of $2.11M across 6 funding rounds to date. The company's 1st funding round was a Seed of $237.42K, raised on May 11, 2015.
How many employees does MyNewCar have?
As of Apr 06, 2024, the latest employee count at MyNewCar is 9.
What is the annual revenue of MyNewCar?
Annual revenue of MyNewCar is $28.58K as on Mar 31, 2023.
What does MyNewCar do?
MyNewCar was founded in 2014 in Mumbai, India, as an online multi-brand car marketplace. New vehicles are offered at pre-negotiated on-road prices, with options for browsing, comparing, configuring, booking test drives, and completing purchases digitally. Doorstep delivery and pickup services are provided, alongside car insurance, financing, and trade-in options. A peer-to-peer test drive and review platform called Trivz has been launched.
Who are the top competitors of MyNewCar?
What products or services does MyNewCar offer?
MyNewCar offers Car Buying Service, Car Leasing Service, and Car Subscription Service.
Who are MyNewCar's investors?
MyNewCar has 25 investors. Key investors include GreenCom Networks, M.B. Finmart, Rajiv M Sanghvi, Arun Vasudevan, and Richard Rebernik.
What is MyNewCar's valuation?
The valuation of MyNewCar is $7.45M as of Jan 2020.