Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Facebook Twitter Instagram
    Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Facebook Twitter YouTube
    • Featured Startups
    • Funding News
    • CEO Interviews
    • Startup Resources
    • Inspiring Stories
    • Submit Startup
      • Pitch VCs
    • More
      • Our Team
      • Advertise
      • Write for us
      • Privacy policy
      • Startup listing
      • Steal The Deal
      • Contact
    Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Home»Funding News»Online Auto Marketplace Droom secures $30 Mn in Series E round
    Funding News

    Online Auto Marketplace Droom secures $30 Mn in Series E round

    Girish ShettiBy Girish ShettiOctober 4, 2018Updated:October 27, 20202 Mins Read
    Facebook Twitter LinkedIn Email
    Share
    Facebook Twitter LinkedIn Email

    Droom Technology, which operates online marketplace for automobiles, has raised $30 Mn (approximately Rs 221 crore) in series E round. The round was led by two new investors. Joe Hirao, president and founder of Tokyo based Zigexn Co, has been identified as one of the investors. The name of another investor has not been identified, but it is believed that the other investor also hails from Japan.

    The Gurgaon based company will use fresh funds for making investment in Droom Credit services, which offers loans to both dealers as well as customers in used cars and bikes segment. Additionally, significant part of the funds will be used for bolstering company’s automobile inspection services.

    Sandeep-Agarwal
    Sandeep Agarwal, founder of Droom.

    Droom’s latest fundraising round comes closely on the heels of $30 Mn series D funding round, which was led by automobile giant Toyota. The investment marked Toyota’s debut in the Indian startup ecosystem space. At the time of series D funding, company disclosed that it plans to file for an IPO in 2020.

    Droom was founded by Sandeep Aggarwal in 2014 with an aim to bring e-commerce revolution in the second hand automobile space. The company had posted revenue of $11 million in financial year 2017-18. In fact, the company boasts pretty good market tractions, making the startup one of the hottest properties in the investment world.

    Mentioned below are some of the tractions Droom has claimed to achieve:

    • Approximately $750 Mn in gross revenue
    • $250 Mn in net revenue with GMV of nearly $6 Bn
    • Boasts 250k auto dealers spread across more than 550 cities
    • Company’s official website more than 33 Mn monthly visitors

     

    https://www.youtube.com/watch?v=Nc5KEIRNcDE

    Droom Droom funding featured Sandeep Agarwal
    Share. Facebook Twitter LinkedIn Email
    Girish Shetti

    Related Posts

    AI is as risky as Nuclear Weapon, top Tech Companies claim  

    May 31, 2023

    Nvidia unveils Slew of AI Products including a new Supercomputer  

    May 30, 2023

    WhatsApp planning to launch ‘screen-sharing’ feature on Video Call

    May 29, 2023

    Twitter launches new $5000 API plan for Startups  

    May 26, 2023

    Leave A Reply Cancel Reply

    Popular Post
    • Why is one Airpod louder than the other- reason and fixes Why Is One Airpod Louder Than The Other- Reason And Fixes
    • Is Real Estate Investment Trusts a Good Career Path Is Real Estate Investment Trusts a Good Career Path? [Complete Guide]
    • advertisement examples 16 Creative Product Advertisement Examples & Ad Campaigns You Must See
    • Places that hire at 15 Places that Hire at 15 Years – Top Choices for Teenagers
    • Pestel Analysis PESTEL Analysis – What it Means and its 6 Factors Explained
    Category Posts
    • how to mark all emails as read gmail How to Mark All Emails as Read in Gmail: The Ultimate Guide to Inbox Organization
    • how to appear offline on xbox How to Appear Offline on Xbox: A Comprehensive Guide
    • how to hyperlink in discord embed How to Hyperlink in Discord Embed: A Comprehensive Guide
    • how to delete videos on facebook How to Delete Videos on Facebook: A Step-by-Step Guide
    • Accessing SQL Server Database - with SQLCMD or dbForge Studio How to access SQL Server Database without Management Studio
    Our Partners
    Shopping online for Windows tablet - DHgate
    Platform to Showcase Innovative Startups and Tech News
    Facebook Twitter YouTube
    • Popular Posts
    • Advertise
    • Submit A Startup
    • Privacy policy
    • Disclaimer
    © 2023 Techpluto. Designed by Techpluto.

    Type above and press Enter to search. Press Esc to cancel.

    Catch the latest news from Startup World in your Inbox!
    [email protected]