Funding round
CARS24 Series D
CARS24, which works in used and new car retail in Gurgaon, raised $100M in a Series D round announced on 17 Oct 2019, led by KCK Global and Unbound. 9 firms took part, 4 of them already investors. It is CARS24's second venture round on record; the one before was a Series C in Jul 2018.
$100M
Amount raised
Not disclosed
Post-money valuation
9
Investors
2 leads
Valuation
What this round says about the price
CARS24 did not disclose a valuation in this round. It came 15 months after CARS24's Series C. It is 29% of the $350M CARS24 has raised in the venture rounds on record. CARS24 raised again 13 months later: a Series E round of $200M in Nov 2020, at $1.00B post-money.
CARS24's funding rounds
CARS24 has 3 venture rounds on record and 2 other deals. This one is highlighted.
Investors
Who put money in
KCK Global and Unbound led the round with 7 other firms. KCK Global, Agnelli (Fiat) Family, Sequoia Capital and KCK Financial Services had backed CARS24 before.
Lead investors
- KCK Global existing investor
- backs 13 venture-backed companies new investor
Also in the round
- Sequoia India new investor
- Agnelli (Fiat) Family existing investor
- Sequoia Capital backs 589 venture-backed companies existing investor
- Moore Strategic Ventures new investor
- DST Global backs 179 venture-backed companies new investor
- Partners Fund new investor
- backs 9 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: 2 in Automobile Dealers & Manufacturers, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Automobile Dealers & Manufacturers | 3 Sep 2019 | $250M | not disclosed | CNH Industrial N.V. |
| CarDekho Automobile Dealers & Manufacturers | 5 Dec 2019 | $70M | $700M | Ping An Global Voyager Fund |
| RigUp Tech Companies | 10 Oct 2019 | $300M | $1.90B | Andreessen Horowitz |
| Faire General Retail & Merchandise | 30 Oct 2019 | $150M | $1.00B | Lightspeed Venture Partners and Founders Fund |
| Clari Tech Companies | 10 Oct 2019 | $60M | $500M | Sapphire Ventures |
| Sports & Leisure - Clubs, Fields & Pitches | 30 Oct 2019 | $25M | not disclosed | WestRiver Group and RNS Partners |
| Medical Supply Manufacturers | 1 Oct 2019 | undisclosed | not disclosed | not named |
| Tech Companies | 13 Nov 2019 | $400M | $2.75B | Generation Investment Management and T. Rowe Price Associates, Inc. |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did CARS24 raise in its Series D round?
CARS24 raised $100M in its Series D round, announced in Oct 2019.
Who led CARS24's Series D round?
KCK Global and Unbound led it, with Sequoia India, Agnelli (Fiat) Family, Sequoia Capital, Moore Strategic Ventures and DST Global and 2 more.
What was CARS24's valuation at the Series D round?
It was not disclosed.
Did CARS24 raise again after this round?
Yes: a Series E round in Nov 2020 of $200M at $1.00B post-money.