According to recent reports the used vehicle portal, Cars24, recently raised $50 million from the venture capital company Sequoia and other investors. Based out of Gurugram, India, Cars24 buys cars from individual sellers and sells them off to companies and businesses.
Cars24 is a car buying and selling platform based out of India with a goal of changing the traditional ways vehicles are purchased. With 50 branches spread over ten of India's major cities, Cars24 is attempting to remove the hassles, problems, and general anxiety that comes with the usual steps to buy a car.
Themis Associates advised Sequoia Capital led by a team of associate partner Siddharth Manchanda, and senior associate Neha Mirajgaoker.
Singaporean firm Shook Lin & Bok represented Cars 24.
The fund raising deal was finalized and completed on August 1st of last year and was estimated to be be around $23.4 million.
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