<img class="gwt-Image" src="/photo/46044051.cms" /> In a fresh round of funding led by <keyword id="2604975" type="UNKNOWN" weightage="20" keywordseo="Hillhouse-Capital">Hillhouse Capital</keyword> and <keyword id="2524284" type="COMPANY" weightage="20" keywordseo="Tybourne-Capital">Tybourne Capital</keyword>, auto classifieds website <keyword id="1945738" type="UNKNOWN" weightage="20" keywordseo="Cardekho">CarDekho</keyword>.com has raised $50 million (about Rs 307 crore). CarDekho’s existing investor Sequoia Capital, which currently has a 20% stake in the company, also participated in the funding process. 
 
The seven year-old company, which sells both used and new cars on its platform, has now joined the club of Indian consumer Internet companies valued at Rs 1,000 crore or more. 
 
"We will be using the proceeds primarily towards brand building and marketing. We will consider acquisitions as well, and have held talks with other start-ups that we feel can enhance our technology platform," said Amit Jain, co-founder and chief executive officer (CEO) at CarDekho. CarDekho’s chief competitors are Tiger Global, <keyword id="1980082" type="UNKNOWN" weightage="20" keywordseo="Cartrade">CarTrade</keyword>.com and <keyword id="817470" type="COMPANY" weightage="20" keywordseo="Carwale">Carwale</keyword>.com. It also faces competition from classifieds websites like OLX and eBay-backed Quikr. 
 
"Given the adoption of the Internet in India, especially through mobile, we're targeting revenue of Rs 500-600 crore, and a billion dollar valuation over the next four to five years," said Jain. 
 
A number of global hedge funds have been pumping cash into the country’s consumer Internet businesses for the last two years.

CarDekho.com Raises Fresh Funds Worth Rs 307 Crore

<img class="gwt-Image" src="/photo/35437938.cms" /> 
Online marketplace Snapdeal.com has raised $100 million from a group of five investors, the company said in a statement. The investors are Temasek, <keyword id="192695" type="CITY" weightage="100" keywordseo="BlackRock-Inc">BlackRock Inc</keyword>, <keyword id="60286" type="COMPANY" weightage="100" keywordseo="myriad">Myriad</keyword>, <keyword id="648852" type="COMPANY" weightage="100" keywordseo="Premji-Invest">Premji Invest</keyword> and <keyword id="2249842" type="UNKNOWN" weightage="100" keywordseo="Tybourne-">Tybourne.</keyword> 
 
"We see this financing round as another endorsement of Snapdeal's differentiated strategy and progress as India's largest online marketplace. We are pleased to welcome several marquee global investors as our partners and believe their association will contribute to Snapdeal's long-term success. 
 
"Our mobile and Internet commerce marketplace is now connecting millions of buyers to a very large base of sellers that offer products and services of national and international brands. We will continue to focus on creating life-changing experiences for the buyers, as well as sellers, in the Snapdeal ecosystem," said Kunal Bahl, Snapdeal's co-founder and chief executive officer. 
 
This follows Snapdeal's previous round of equity financing of $133.77 million, which was completed in February 2014 with participation from Snapdeal's existing investors, including eBay, Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital. 
 
Credit Suisse acted as Snapdeal's exclusive financial advisor and Indus Law acted as its legal advisor for the financing.

Online Marketplace Snapdeal.com Raises $100
Million From 5 Investors

<img class="gwt-Image" src="/photo/49565027.cms" /> With a few more days to go for Diwali, <keyword id="541988" type="COMPANY" weightage="80" keywordseo="SnapDeal">Snapdeal</keyword> acquired <a href="http://www.businessinsider.in/searchresult.cms?query=freecharge" target="_BLANK￿￿￿￿">Freecharge</a> is already having a blast. You must be wondering what the reason is. Well, Jasper Infotech, the parent company of Snapdeal will be raising $300 million (Rs 2,000 crore) for its digital services platform <a href="http://www.businessinsider.in/searchresult.cms?query=freecharge" target="_BLANK￿￿￿￿">FreeCharge</a>. 
 The fundraising exercise will bolster <keyword id="6377963" type="UNKNOWN" weightage="80" keywordseo="Freecharge">Freecharge</keyword>’s grounding and thereby aid Snapdeal to extend more goods and services to the customers. In the news report, The Economic Times has also said that Snapdeal had earlier raised $500 million from Alibaba, <a href="http://www.businessinsider.in/searchresult.cms?query=Foxconn" target="_BLANK￿￿￿￿">Foxconn</a> and SoftBank. 
 
The ET news report further confirmed that two sovereign funds are also keen on investing in this round. While the identities of these investors haven’t been ascertained yet, this proves that India is becoming a luring ground for investors funding in digital space. 
 
Freecharge’s rival <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm" target="_BLANK￿￿￿￿">Paytm</a> has raised almost $680 million from Alibaba. This fundraising by Freecharge will help Snapdeal to counter <keyword id="6357120" type="UNKNOWN" weightage="60" keywordseo="PayTM">Paytm</keyword>. Vijay Shekhar Sharma, the founder of the company which owns Paytm, is one of the 11 entities to receive an RBI licence to start a payment bank, reported the ET. 
 
However, the new <a href="http://www.businessinsider.in/searchresult.cms?query=fund+raising+" target="_BLANK￿￿￿￿">fund raising</a> would not have any secondary components. This would mean that Freecharge <a href="http://www.businessinsider.in/searchresult.cms?query=fund+raising+" target="_BLANK￿￿￿￿">investors</a> including Sequoia Capital, hedge funds Valiant Capital and Tybourne Capital, ru-Net and Sofina will keep holding Snapdeal’s stock.

Freecharge gets fund booster as Snapdeal readies to raise $300 million

<img class="gwt-Image" src="/photo/48267710.cms" /> Wish to buy a car this <keyword id="188" type="ENTERTAINMENT" weightage="20" keywordseo="Diwali">Diwali</keyword>? But what about the one you already have. So, this <a href="http://www.businessinsider.in/searchresult.cms?query=diwali">Diwali</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Ratan+Tata">Ratan Tata</a>-backed <a href="http://www.businessinsider.in/searchresult.cms?query=CarDekho+">CarDekho </a>will launch <keyword id="2973964" type="UNKNOWN" weightage="20" keywordseo="CarBuddy">CarBuddy</keyword>, an app to assist you if your car breaks down in the middle of the road. 
 
As reported by Economic Times, the app will ensure that a mechanic reaches you in a few minutes. CarBuddy will offer the service in India's big cities in the next three months. 
 <keyword id="1945738" type="UNKNOWN" weightage="20" keywordseo="Cardekho">CarDekho</keyword> CEO <keyword id="30126" type="PERSON" weightage="20" keywordseo="Amit-Jain">Amit Jain</keyword> said, "We have tied up with five major car helpline players in major metros and are in the process of tying up with local mechanics to provide the on-demand service." 
 
As per the report, CarBuddy will work on commission basis, on different rates for various services including car wash, battery change, full car service and much more. 
 Developed by Girnar Soft’s Jaipur delivery canter, the app initially will be launched only on <keyword id="6355645" type="COMPANY" weightage="20" keywordseo="android">Android</keyword> platforms and later-on will expand to an online manual for users for basic repairs. 
 
In its series B of fund raising, in January, CarDekho raised $50 million from investors including Hillhouse Capital, Tybourne Capital and Sequoia Capital. 
 
Not just this but the firm is also planning to spread out the idea. "India will prove to be a test ground for us. Once successful we will expand it overseas," Jain informed. 
 
According to the Society of Indian Automobile Manufacturers, about 18.51 lakh cars were sold in India in 2014 but not many were covered under the repair assistance program. For instance, the Delhi National Capital Region has about 73 lakh cars, making it the country's biggest market. 
 
"But only about 2.5 lakh cars are covered under any kind of repair assistance," said Neeraj Kumar Naveen, managing director of Race Car Helpline, which has 50,000 vehicles registered on its network. 
 
According to estimates, each car registered on the repair networks in India gets serviced about 1.2 times per Year. India has about 2.2 crore vehicles on its roads. 
 
The opportunity has attracted global repair assistance companies such as Mondial and Mapfre, which also offer assistance for <a href="http://www.businessinsider.in/searchresult.cms?query=luxury+cars">luxury cars</a>. 
 
Image: thinkstock

This Diwali CarBuddy will help you if your car breaks down

<img class="gwt-Image" src="/photo/42799060.cms" /> Influenced by India’s growing online retail market, there are reports that Chinese e-retailer Alibaba may invest in local e-retailer <keyword id="541988" type="COMPANY" weightage="80" keywordseo="SnapDeal">Snapdeal</keyword> in a bid to tap the e-commerce sector. 
 
The Chinese retailer has discussed a possible $300 million investment in Snapdeal, one of India’s largest online marketplaces, though both firms are still to decide on it, The Economic Times quoted an anonymous source as saying. 
 However, Alibaba, which has the sales of <keyword id="6357395" type="CITY" weightage="80" keywordseo="eBay">eBay</keyword> and <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword> combined, refused to comment to the newspaper about the deal. 
 On the other hand, Snapdeal also remained mum about the investment. It has been raising funds from various sources even as bigger rivals like Amazon and <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword> have said that they will be ramping up investments in order to improve their presence in India. 
 
If we believe the media reports, Delhi-based Snapdeal is in advanced talks to raise $600 million in a fresh infusion of funds from existing investors led by Softbank. Also, there are reports that the deal will be announced within a month. 
 
The popular e-tailer had received funding worth $133.7 million (about Rs 830 crore) in February from its existing investor, eBay and others. In May, Snapdeal had raised $100 million (about Rs 600 crore) from Temasek, BlackRock Inc, Myriad, Premji Invest and Tybourne. 
 In a bid to expand its presence in the $3 billion Indian e-commerce market, Snapdeal has invested about $100 million in logistics and operations. Recently, its most high profile investment was made by <keyword id="6355725" type="CITY" weightage="80" keywordseo="Tata-Group">Tata Group</keyword>'s chairman emeritus Ratan Tata. 
 
This was followed by units of the Tata group--Tata Housing and Croma--tying up with the e-commerce site to sell their products. 
 
Currently, Snapdeal houses over 5 million products across 500 diverse categories from over 50,000 sellers. 
(Image: indiatimes)

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CarDekho.com Raises Fresh Funds Worth Rs 307 Crore

BI India Bureau

Online Marketplace Snapdeal.com Raises $100 Million From 5 Investors

BI India Bureau

Freecharge gets fund booster as Snapdeal readies to raise $300 million

BI India Bureau

This Diwali CarBuddy will help you if your car breaks down

BI India Bureau

Alibaba Eyes Indian e-commerce Market, Plans To Invest In Snapdeal

BI India Bureau