In the series D funding round, Car Dekho raised $70 million (₹500 Cr.), led by China’s Ping An’s Global Voyager Fund.
While we’re here: The last few years have seen Chinese investors deepening their push into the Indian startup ecosystem. Chinese companies have invested in more than a dozen Indian StartUps infusing over $7 Billion (₹50,000 Cr.). Some of the big names include Ola (ride-hailing), Oyo-Rooms (hospitality), Paytm (payment platform), Paytm Mall (Ecommerce), and Swiggy (Food Delivery). In fact, out of all the investment proposals received under the ‘Invest India’ programme, nearly 42% of proposals were from China.
The big picture: With the resources brought in by the new investors, including Ping An which also happens to be a majority shareholder of China’s largest auto portal- AutoHome, Car Dekho is looking to expand its international footprint. It has already started operations in the Philippines and Indonesia.