Cardekho To Expand Across South East Asia
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The Jaipur based auto classifieds platform Cardekho is to make larger across South East Asia by acquiring Carmudi Philippines. Cardekho founded in 2008 by IIT Alumni Anurag Jain and Amit Jain is India’s leading car search venture that supports users buy cars that are right for them.
The company provides rich automotive specialist reviews, specifications, and prices, comparisons as well as videos and pictures of all car brands and models available in India. The platform also has another feature wherein users can buy and sell their cars.
A total of around $200 million investment the Cardekho has raised from investors includes Google Capital, Ratan Tata. Cardekho has now acquired Carmudi Philippines local automotive website. Founded in 2013 by Erwin Sikma, Fritz Simons and Stefan Haubold, Berlin-based Carmudi operates more than 20 countries across Asia, Africa, Latin America, and the Middle East.
Carmudi raised more than $50 million seed funding within three years. With this acquisition, CarDekho’s technologies are expected to upgrade the buying and selling website experience for Carmudi and also expected to launch new products and modifications. Recently ICar Asia acquires Carmudi Indonesia Business at $3 million while Cardekho entered Indonesia after acquiring OTO Indonesia in 2016.
Earlier Cardekho acquired ZIgwheels which is part of times internet and also a presence in UAE with Zigwheels.ae.The company also ventured into car insurance through InsuranceDekho wit with registered a 140 % growth during the Financial year 2019. CarDehko also launched TyreDekho and TruckDekho a classified platform for Tyre related research tool and commercial vehicle latest truck information.
The main Rivals are Cartrade was established in 2010 by Vinay Sanghi and Rajan Mehra. It has a network of over 4,000 dealers across 80 cities in India.CarTrade acquired Carwala in 2015. Car Trade has raised around $100 million so far from investors.