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Tuesday, April 12, 2016

The search engines Capital invests in Girnar Application, owner of Indian automotive portal CarDekho. com

Girnar Application, which runs several automotive portals in India as well as CarDekho. com, has raised an undisclosed number of new funding from The search engines Capital, with participation by returning investor Hillhouse Investment capital.

This is the final Indian startup Google Capital has picked up (its portfolio also incorporates Freshdesk, Commonfloor, and Practo).

Previous to this round, Girnar Software had already raised at the very least $80 million. In improvement to CarDekho. com, Girnar Application runs car classifieds web-sites Gaadi. com and Zigwheels. com, ex- competitors which it received in 2014 and 2015, respectively, in addition to motorbike marketplace BikeDekho. com.

Girnar Software expanded it is auto portal business internationally last March while using the launch of CarBay. com, which often operates in 25 places in Asia, Africa, the middle East, Europe, North North america, and South America.

This company plans to continue growing overseas featuring a latest funding by doing acquisitions, founder and PRESIDENT Amit Jain tells TechCrunch. In its housing, Girnar Software’s sites finds Indian car sellers in addition to buyers with value-added products and services, like insurance, car gadgets, tires, and roadside aid.

According to a review by Japanese financial corporation Nomura, India’s auto market is required to grow 15. 6 percent this holiday season, nearly five times faster versus global growth rate. Factors fueling car property include larger salaries in addition to pending tax changes that will make buying a auto cheaper.

CarDekho seeks to help differentiate from rivals, including CarTrade (which has increased about $175 million), having technology like 360-degree connected with car interior and exteriors, sound recording recordings of horns, machines, and ignition, and exclusive reality showrooms. The goal is usually to “ensure that the purchaser gets an immersive experience of the car model he’s thinking of before he even goes to a dealer showroom, ” states that Jain. It will improve it is platform by investing most of its new funding in research and development.

Within a press statement, Google Investment capital partner David Lawee claimed, “We’re very excited for being investing in Girnar Application, the parent company connected with Idia’s leading auto webpage, CarDekho. com. The team is guided by savvy entrepreneurs that has a strong product orientation, with positioned the company perfectly within a rapidly growing market. ”

Techsourcenetwork