Funding round
Carro Series C
Carro, which works in online car marketplace services in Singapore, raised $360M in a Series C round announced on 15 Jun 2021, led by SoftBank Vision Fund, at a $1.00B post-money valuation. 7 firms took part. It is Carro's second venture round on record; the one before was a Series A in Jun 2016.
$360M
Amount raised
$1.00B
Post-money valuation
$640M pre-money
7
Investors
1 lead
36%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Carro at $1.00B after the new money. The $360M bought investors about 36% of the company. It came 60 months after Carro's Series A. It is 85% of the $425M Carro has raised in the venture rounds on record. Carro raised again 51 months later: a Growth round of $60M in Sep 2025.
Carro's funding rounds
Carro has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
SoftBank Vision Fund led the round with 6 other firms.
Lead investor
- SoftBank Vision Fund backs 234 venture-backed companies new investor
Also in the round
- EV Growth new investor
- backs 56 venture-backed companies new investor
- backs 3 venture-backed companies new investor
- Endeavor backs 236 venture-backed companies new investor
- MSIG Holdings Vietnam new investor
- backs 9 venture-backed companies 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, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
5 Series C rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $65M, and this round was 5.5 times the median. The closest in time, other companies' Series C rounds in Automobile Dealers & Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Automobile Dealers & Manufacturers | 8 Apr 2021 | $65M | $350M | General Catalyst |
| Automobile Dealers & Manufacturers | 29 Nov 2021 | $190M | $1.00B | Index Ventures and ICONIQ Growth |
| Automobile Dealers & Manufacturers | 13 Dec 2021 | $15M | not disclosed | TVS Motor Company and Zoho Corporation |
| Automobile Dealers & Manufacturers | 21 Feb 2022 | $260M | not disclosed | Luxor Capital |
| Automobile Dealers & Manufacturers | 8 Jul 2020 | $50M | not disclosed | Moore Strategic Ventures, LLC |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Carro raise in its Series C round?
Carro raised $360M in its Series C round, announced in Jun 2021.
Who led Carro's Series C round?
SoftBank Vision Fund led it, with EV Growth, MS&AD Ventures, Ion Pacific, Endeavor and MSIG Holdings Vietnam and 1 more.
What was Carro's valuation at the Series C round?
$1.00B post-money ($640M pre-money).
How does it compare with other Series C rounds in Automobile Dealers & Manufacturers?
5 Series C rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $65M, and this round was 5.5 times the median.
Did Carro raise again after this round?
Yes: a Growth round in Sep 2025 of $60M.