Funding round
CARSOME Series A
CARSOME, which works in used car retail and distribution in Petaling Jaya, raised $6.0M in a Series A round announced on 6 Jun 2017, led by Gobi Partners. 5 firms took part, 2 of them already investors. It is CARSOME's first venture round on record.
$6.0M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
CARSOME did not disclose a valuation in this round. It is CARSOME's first venture round on record, 2 years after it was founded in 2015. It is 1.0% of the $576M CARSOME has raised in the venture rounds on record. CARSOME raised again 30 months later: a Series C round of $50M in Dec 2019. Its next priced round, a Series D in Sep 2021, valued it at $1.30B.
CARSOME's funding rounds
CARSOME has 5 venture rounds on record and 2 other deals. This one is highlighted.
- Other not a venture round 1 Aug 2015 $350K
- Series A this round 6 Jun 2017, led by Gobi Partners $6.0M
- Series C 1 Dec 2019, led by MUFG Innovation Partners, Daiwa PI Partners and Endeavor $50M
- Series D 1 Sep 2021 $200M$1.30B post-money
- Series E 10 Jan 2022, led by Qatar Investment Authority, 65 Equity Partners and SeaTown $290M$1.70B post-money
- Debt not a venture round 16 Jul 2025, led by HSBC Malaysia $15M
- Series F 1 Mar 2026 $30M
Investors
Who put money in
Gobi Partners led the round with 4 other firms. 500 Global and Spiral Ventures had backed CARSOME before.
Lead investor
- backs 56 venture-backed companies new investor
Also in the round
- backs 19 venture-backed companies new investor
- backs 28 venture-backed companies new investor
- 500 Global backs 327 venture-backed companies existing investor
- backs 22 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- 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 $5.3M, 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 |
|---|---|---|---|---|
| Automobile Dealers & Manufacturers | 16 Feb 2017 | $3.0M | not disclosed | not named |
| Automobile Dealers & Manufacturers | 24 Jan 2017 | $15M | not disclosed | Alstom |
| Automobile Dealers & Manufacturers | 23 Jan 2018 | $12M | not disclosed | United Ventures |
| Automobile Dealers & Manufacturers | 6 May 2018 | $2.0M | not disclosed | BECO Capital |
| Carro Automobile Dealers & Manufacturers | 13 Jun 2016 | $5.3M | not disclosed | Ventura Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did CARSOME raise in its Series A round?
CARSOME raised $6.0M in its Series A round, announced in Jun 2017.
Who led CARSOME's Series A round?
Gobi Partners led it, with Lumia Capital, InnoVen Capital, 500 Global and Spiral Ventures.
What was CARSOME'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 $5.3M, and this round was close to the median.
Did CARSOME raise again after this round?
Yes: a Series C round in Dec 2019 of $50M.