Sequoia to lead USD 15 Mn funding in Girnar Software

sequoia_capital-547e40c99a06a035f85fe841c3fad345Venture capital firm Sequoia Capital is soon going to lead a USD 15 Mn funding round in Jaipur based Girnar Software, which owns internet portals Cardekho, Bikedekho and Pricedekho, for a 20% stake in the company.

The company is expected to make a formal announcement of the funding soon. This would be the first round of funding for the company and will value it at around USD 50 Mn, says a report by TOI. The company is expected to take its business overseas with this funding.

Cardekho, which is the flagship service of Girnar, provides a platform to buy new and used cars in India online and has over 25,000 used cars listed. It also offers information on new car prices, car financing, car insurance, car specifications and car dealers in India.

“In this eCommerce era, where most start-ups are losing money, we are one of the few who are able to run real business which generates profits,” as written by Amit Jain , CEO, GirnarSoftware on the professional networking website LinkedIn.

As per the company, Cardekho gets over three million unique visitors every month, whereas its other services i.e. Pricedekho and Bikedekho are new in the market. These compete with Nirvana backed Cartrade.com and Nasper backed Gaadi.com.

To contact author of this post, email pooja.sareen@wirefootindia.com

 

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