DealTracker – CarWale Raises Upto $7 Mln In Series A
CarWale.com, has announced the successful completion of a Series A round of financing, led by Sierra Ventures. In 2006, CarWale had earlier received seed stage funding from early stage fund Seedfund for about 30% stake. Tim Guleri and Vispi Daver of Sierra Ventures will join the company’s Board of Directors.
The company plans to use the funding to expand their sales distribution, increase marketing efforts, and enhancing the product. Guess weshould expect new features coming up on the website soon (I hope they do some work on the logo as well).
Carwale claims that in last one year it has served more than 10 million Indian car consumers and has influenced approximately $ 3 bn worth of car transactions in India.
Other players in the segment include – AutoIndia.com, Carazoo.com, Gaadi.com and IndiaAutomobile.com.
Must reads:
DealTracker – AutoIndia.com Raises Angel Funding
Cars Go Online
Would You Buy Your Car Online?
How To Sell Automobiles Online
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