CarTrade Tech Ltd, one of India’s leading automotive platforms, has announced the launch of CarTrade Ventures with the intent to invest up to INR 750 crore over a period of 5 to 7 years.
The capital, invested through profits generated and funds available in the company, will be used to strategically acquire and invest in companies in the automotive space, said the company.
Any acquisition or investments thus made through CarTrade Ventures will help the company to either enter a new market or segment or to bring new products and technologies to existing customers.
Vinay Sanghi, Founder & Chairman, CarTrade Tech Group said, “We have launched CarTrade Ventures to invest in new age technologies and to digitalise the buying, selling and ownership of vehicles, and be a key enabler in the growth of the auto ecosystem.”
The investment in CarTrade Ventures will be used to acquire and invest in companies that are driving innovation in the global auto ecosystem, “so that we can offer the consumer a great online auto shopping and ownership experience”, Sanghi added.
The group is actively looking to acquire and invest in companies that are driving innovation in all aspects of the automobile ecosystem, which includes auto finance, leasing, insurance, servicing, car ownership, electric vehicles, clean energy and new-age technologies such as augmented reality, artificial intelligence and visualisation, to digitalise the auto buying journey.
In addition to capital, CarTrade Ventures will bring unique value to the companies through synergies with group companies and access to customers and technology, thereby helping these companies scale rapidly.
“We have been very successful in growing our business organically and inorganically and are very excited about partnering with entrepreneurs, who share the same vision and passion,” said Sanghi.
Over the last few years, CarTrade Tech has successfully acquired and integrated CarWale – a leader in the online new and used car space, Shriram Automall (SAMIL) – a leader in the auto auction space, BikeWale – a leader in the 2-wheeler online space and Adroit Auto – a leader in auto inspections and valuations.
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