Funding round
Carro Series A
Carro, which works in online car marketplace services in Singapore, raised $5.3M in a Series A round announced on 13 Jun 2016, led by Ventura Capital. 7 firms took part. It is Carro's first venture round on record.
$5.3M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Carro did not disclose a valuation in this round. It is Carro's first venture round on record, 1 year after it was founded in 2015. It is 1.2% of the $425M Carro has raised in the venture rounds on record. Carro raised again 60 months later: a Series C round of $360M in Jun 2021, at $1.00B post-money.
Carro's funding rounds
Carro has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Ventura Capital led the round with 6 other firms.
Lead investor
- backs 20 venture-backed companies new investor
Also in the round
- Singtel Innov8 new investor
- backs 38 venture-backed companies new investor
- backs 46 venture-backed companies new investor
- backs 19 venture-backed companies new investor
- backs 32 venture-backed companies new investor
- new 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
5 Series A rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $6.0M, and this round was close to the median. The closest in time, other companies' Series A rounds in Automobile Dealers & Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| CARSOME Automobile Dealers & Manufacturers | 2 Mar 2016 | $2.0M | not disclosed | IdeaRiverRun |
| Automobile Dealers & Manufacturers | 24 Jan 2017 | $15M | not disclosed | Alstom |
| Automobile Dealers & Manufacturers | 16 Feb 2017 | $3.0M | not disclosed | not named |
| Automobile Dealers & Manufacturers | 30 Jul 2015 | $16M | not disclosed | Lightbox |
| CARSOME Automobile Dealers & Manufacturers | 6 Jun 2017 | $6.0M | not disclosed | Gobi Partners |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Carro raise in its Series A round?
Carro raised $5.3M in its Series A round, announced in Jun 2016.
Who led Carro's Series A round?
Ventura Capital led it, with Singtel Innov8, Golden Gate Ventures, Alpha JWC Ventures, Skystar Capital and GMO VenturePartners and 1 more.
What was Carro's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Automobile Dealers & Manufacturers?
5 Series A rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $6.0M, and this round was close to the median.
Did Carro raise again after this round?
Yes: a Series C round in Jun 2021 of $360M at $1.00B post-money.