Droom, an online car retail platform based out of India, recently fund raised $10 million in a Series F round from their holding entity out of Singapore.
As per the filings, the company has allotted 2,34,561 equity shares to Droom Pte Ltd.
The company last raised $30 million in Series E round in October last year led by Japanese investor Joe Hirao’s family office fund. In May 2018, it secured $30 million in Series D funding led by Toyota Tsusho Corporation, member of the Toyota Group, and co-led by Digital Garage of Japan.
Till date, Droom has raised a total funding of $133 million in seven rounds. Its other investors include Lightbox, Beenext, Beenos, and Integrated Assets Management.
Earlier this month, the company also allocated Rs 50 crore (approximately US$7 million) of its investment budget to set up an AI lab to leverage technological interventions like artificial intelligence (AI), machine learning (ML), and big data to offer newer tools and solutions to enable commerce for used automobiles.
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