On Monday, CARS24 said that it had raised $400 million in a funding round that saw the participation of asset manager Alpha Wave Global, valuing the used-car retailing platform at $3.3 billion.
The round comprises a $300 million equity infusion led by Alpha Wave and $100 million in debt from investors in India, Australia and the United Arab Emirates, CARS24 said.
- Godrej Properties Shares Zoomed 9.5% on Robust Q4FY24 Business and Financial Performance
- Stocks in Focus: Titan, Aurobindo Pharma, Britannia Industries, and Others
- Stocks Under F&O Ban: Balrampur Chini, Aditya Birla Fashion, Biocon, and Others
- How to choose the Best Stocks for Intraday F&O trading in India?
- Vedanta Outlook for the Week (May 06, 2024 – May 10, 2024)
The funds will expand the company’s presence in the Middle East, Australia and Southeast Asia.
Indian startups have been on a tear in 2021, with several of them entering the “unicorn” club of $1 billion valuations, while high-profile names such as digital payments firm Paytm, food delivery firm Zomato and fashion e-commerce company Nykaa have made public market debuts via massive IPOs.