Funding round
CarDekho Series E
CarDekho, which works in digital automotive marketplace services in Jaipur, raised $250M in a Series E round announced on 13 Oct 2021, led by LeapFrog Investments, at a $1.20B post-money valuation. 7 firms took part, 2 of them already investors. It is CarDekho's third venture round on record; the one before was a Series D in Dec 2019.
$250M
Amount raised
of which $50M debt
$1.20B
Post-money valuation
$950M pre-money
7
Investors
1 lead
1.7x
Step-up from the Series D
$700M in Dec 2019
17%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced CarDekho at $1.20B after the new money, 1.7 times the $700M of its Series D (Dec 2019). The $250M bought investors about 17% of the company. It came 22 months after CarDekho's Series D. It is 56% of the $449M CarDekho has raised in the venture rounds on record. No later venture round is on record for CarDekho.
CarDekho's funding rounds
CarDekho has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
LeapFrog Investments led the round with 6 other firms. Sequoia Capital India and Advent International had backed CarDekho before.
Lead investor
- backs 19 venture-backed companies new investor
Also in the round
- backs 4 venture-backed companies new investor
- Mirae Asset Venture Investments backs 37 venture-backed companies new investor
- Franklin Templeton new investor
- Harbor Spring Capital LLC new investor
- Sequoia Capital India existing investor
- Advent International backs 36 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series E rounds in Automobile Dealers & Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Automobile Dealers & Manufacturers | 27 Oct 2021 | $4.8M | not disclosed | not named |
| CARSOME Automobile Dealers & Manufacturers | 10 Jan 2022 | $290M | $1.70B | Qatar Investment Authority and 65 Equity Partners |
| CARSOME Automobile Dealers & Manufacturers | 31 Jan 2022 | $290M | $1.70B | Qatar Investment Authority |
| CARS24 Automobile Dealers & Manufacturers | 24 Nov 2020 | $200M | $1.00B | DST Global |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did CarDekho raise in its Series E round?
CarDekho raised $250M in its Series E round, announced in Oct 2021.
Who led CarDekho's Series E round?
LeapFrog Investments led it, with Canyon Partners, Mirae Asset Venture Investments, Franklin Templeton, Harbor Spring Capital LLC and Sequoia Capital India and 1 more.
What was CarDekho's valuation at the Series E round?
$1.20B post-money ($950M pre-money).