Funding round
CARS24 Series E
CARS24, which works in used and new car retail in Gurgaon, raised $200M in a Series E round announced on 24 Nov 2020, led by DST Global, at a $1.00B post-money valuation. 4 firms took part, 3 of them already investors. It is CARS24's third venture round on record; the one before was a Series D in Oct 2019.
$200M
Amount raised
$1.00B
Post-money valuation
$800M pre-money
4
Investors
1 lead
20%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced CARS24 at $1.00B after the new money. The $200M bought investors about 20% of the company. It came 13 months after CARS24's Series D. It is 57% of the $350M CARS24 has raised in the venture rounds on record. No later venture round is on record for CARS24.
CARS24's funding rounds
CARS24 has 3 venture rounds on record and 2 other deals. This one is highlighted.
Investors
Who put money in
DST Global led the round with 3 other firms. Exor Seeds, Moore Strategic Ventures and Unbound had backed CARS24 before.
Lead investor
- DST Global backs 179 venture-backed companies new investor
Also in the round
- Exor Seeds existing investor
- Moore Strategic Ventures existing investor
- backs 13 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 E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| CarDekho Automobile Dealers & Manufacturers | 13 Oct 2021 | $250M | $1.20B | LeapFrog Investments |
| Automobile Dealers & Manufacturers | 27 Oct 2021 | $4.8M | not disclosed | not named |
| Cato Networks Tech Companies | 17 Nov 2020 | $130M | $1.00B | Lightspeed Venture Partners |
| Forter Tech Companies | 19 Nov 2020 | $125M | $1.30B | Bessemer Venture Partners and Felix Capital |
| Addepar Tech Companies | 18 Nov 2020 | $117M | not disclosed | WestCap |
| XpressBees Shipping Couriers | 10 Nov 2020 | $110M | not disclosed | Investcorp and Norwest |
| Tech Companies | 12 Nov 2020 | $100M | $800M | Vista Equity Partners |
| Medical Supply Manufacturers | 16 Nov 2020 | $65M | not disclosed | OMRON and Khosla Ventures |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did CARS24 raise in its Series E round?
CARS24 raised $200M in its Series E round, announced in Nov 2020.
Who led CARS24's Series E round?
DST Global led it, with Exor Seeds, Moore Strategic Ventures and Unbound.
What was CARS24's valuation at the Series E round?
$1.00B post-money ($800M pre-money).