How Online automobile marketplace Droom gets $10M ?

It is based in Gurugram which has raised $10 M in the series F round of the funding from the Singapore holding the entity. The companies allocate 234561 equity shares to Droom at the amount of 2964.68 each. In the series E round, the company last raised in October last year which led by the Japanese investor. In 2018, it also secured $30 million series funding led by the Toyota and Co- Led group.

It also allocates around 50 crores of its investment to set up an AI lab and have the innovation such as machine learning, artificially intelligent and big data to offer solutions to open commerce for used automobiles.
It also claims to have the sold over the six lakh vehicles since the launch in 2014. It has a connection of more than 270000 auto dealers on the platform for the amount of the 8000 crores. It also competes with the players like OLX, Cars24, Cardekho, and Cartrade. Other startups also raised a great amount of funding from investors.
Doom will soon launch the 2 new services which are RTO services and test drive at Doorstep in the next few months. Before the end of this year, its aim to cross more than 5000 crores in the revenue and close to 125 crores net revenue. It has sold more than 150000 vehicles since its inception. It is growing as one of the best market places for the used automobile.

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