Tata Group Chairman Emeritus Ratan Tata has made an investment in the online auto classified services provider, CarDekho.com. It indicates the strength of India’s rapidly growing digital consumption market. It is his fourth such e-commerce investment. Just last year, Ratan Tata leader had invested in Snapdeal, Urban Ladder and online jewellery seller BlueStone.
While the amount remains secret, he has agreed to advise the company as and when required. This comes after the announcement of Series B funding of $50 million from Hong Kong-based investors in CarDekho.com. GirnarSoft, the parent company of CarDekho.com, is now valued at 300 million dollars. It is also running other portals like BikeDekho.com and PriceDekho.com. CarDekho.com has seen revenue growing three-fold since 2013 when the company received series A funding of USD 15 million from Sequoia Capital. With incresaing lead generation , it has seen a traffic growth of 45% over the previous year.
Last year, CarDekho.com had acquired a popular auto portal, Gaadi.com for its used car portfolio, innovation in the segment and talented workforce.