“CarDekho’s Series D funding mainly comes from Ping An Global Voyager Fund, an investor arm of Chinese financial services behemoth Ping An, and Sunley House Capital Management, a subsidiary of global private equity firm Advent International, along with participation of existing investors Sequoia India and Hillhouse,” Carmudi said.
“With this fund raise, we will deploy part of the capital raised to Southeast Asia and look to scale up our operations in the Philippines,” said Umang Kumar, CarDekho Group Co-Founder and President.
CarDekho earlier raised money amounting to $110 million through series C funding.
CarDekho acquired the car advertising platform last month, establishing its second operations in Southeast Asia. It has over 4,000 new auto dealerships and 3,000 used car dealers in India.
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