Business

Girnar Software to ensure a $100 million investment from an American venture capital firm

CarDekho.com, India’s one of the first online car buying and selling player has been around for quite a while now. They are owned by a Jaipur based tech company named Girnar Software Pvt. Ltd. This website allows its users to buy and sell cars and get to know every detail of the vehicle. Not so long ago the company launched the bike side of the website as well. It now has a bunch of two wheelers to buy and you can sell them too.

The car trade platform has around four thousand car dealers in their pocket while there are numerous car manufacturers who have shook their hand with the Indian website. The website and also the application has a lot of new ways to showcase a car. A user can get an in-detail specs sheet and also the view of the car both from the outside and the inside.

They have this feature called ‘Feel the Car’ in which the platform provides a 360-degree inside view of the car. There are also videos where sound of the car and all the extra features of the car are explained. CarDekho.com also allows one to compare between two cars. There are sub-categories in which one can compare the cars.

The company has expanded outside India as well. They are present in the United Arab Emirates in the name of Zigwheels.ae. That said, the company is doing quite well on the business front as well. The parent company of the website has received a lot of investment in the past. Girnar Software, which was established in 2007 by brothers Amit Jain and Anurag Jain. There are numerous labels under Girnar Software such as Gaadi.com or BikeDekho.com and also TyreDekho.com as well.

Girnar’s very first investment was made by Sequoia Capital an American venture firm located in Menlo Park. It also received an undisclosed funding from Google Capital in 2015, it raised another $50 million from Hillhouse Capital with contributions from Sequoia Capital and Tybourne Capital. Till today, according to VCCEdge, a data research company, CarDekho has received $96 million in funding.

However, during recent reports, another funding round for the auto portal owned by Girnar is going to take place. There are also rumors about Sequoia Capital investing a total of $100 million that is close to INR 700 crores in the website. Hillhouse Capital, which is an existing investor of Girnar Software is going to participate in this round as well.

These investments will increase the value of the company by a lot. To be specific, the company will be valued at $400-500 million. This Jaipur-based firm is going to extend their lead in the market with this deal. Its rivals Cars24 have followed the same model and are not that far behind. However, Girnar Softwares have made some great acquisitions in recent past.

They have acquired Carbiqi, the platform of used cars, as latest as last month. In August of this year, they also acquired PowerDrift, a YouTube channel which does all vehicle videos and had gained a lot of attraction from the youth. It also bought Zigwheels, three years ago from now. Acquisitions have also been its thing since its inception. However, it will be interesting to see how the company fares after the current round of funding and outgrow its rivals. 

– Unmesh Phule

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