India’s most Trusted Motorplace Droom Raises $20M in Series C
Sandeep Agarwal and Rishab Malik together had founded Droom, an Online Automobile Marketplace. It rises $20M (INR 130 Crore) in Series C, which was led by the Integrated Asset Management & Digital Garage. The companies with high potential also find difficulties in hiring investors who are willing to invest. Still, Droom the Indian online automobiles proved itself as a clutter breaker with its recent funding news.
According to the History of Droom, it is the fifth round of funding and has taken a good position in it. Overall, the Droom has extracted the amount of $65 million, which will alter it to strengthen its dominion in the market. This raising amount will be provided for the systematic build of its platform and also for its tools such as History (About the vehicle), ECO (Economic Cooperation Organization), OBV (Orange Book Value), and Credit.
As we talk about this round of funding, the Founder believes that by looking at the terms of gross revenue, monthly traffic and of the number of dealers, the largest auto portal in India is nothing but the company itself. In India, they have established themselves amongst the top four e-commerce portals. Thus, the Series C has become the accelerator of the Droom. This new fund may lead them the edge of unchallenged competitive on both online automobile and e-commerce landscapes.
Jeffrey Yam who works in Integrated Asset Management considers that concerning about India’s consumer internet, it is the next China. The capacity of Droom to drive development, make versatile technology, and catching the development of the Indian automobile industry, made him marveled. By immediate dealing and solving the common problems faced by buyers and sellers, Droom creates the value for the industry.
The founder & CEO Droom, Sandeep Aggarwal is now also planning on expanding it to international starting from Indonesia by the year end.
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