CarDekho parent Girnar Software gets funding from Google Capital

Girnar SoftGirnar Software Pvt Ltd, which owns six portals including auto portals CarDekho.com and Gaadi.com, has secured an undisclosed amount of funding from Google Capital, with participation from existing investor Hillhouse Capital.

The new funding will be used for technology development, research and development, and expansion of operations within and outside India.

“Google Capital is one of most respected growth equity investors in the world, and brings to us the resources and expertise from one of the most valuable technology companies on the planet,” said Amit Jain, CEO and co-founder of Girnar Software.

Girnar Software, founded in 2007 by siblings Amit Jain and Anurag Jain, also owns BikeDekho.com, TyreDekho.com, and BuyingIQ. It had also bought Zigwheels.com from Times Internet in Septemeber 2015. The six portals collectively clock 30 million unique visitors every month, Girnar Soft claims.

Last year, it invested $1 million in edu-tech startup CollegeDekho.

The company also provides website and mobile application development, testing and software product development services.

Girnar Software had previously received $50 million in a funding round led by Hillhouse Capital, with participation from Sequoia Capital and Tybourne Capital. The investment was done at a $300 million post-money valuation.

HDFC Bank and Ratan Tata have also invested in the company last year.

Google Capital usually does late/ mature stage venture investment as seen in its investments in CommonFloor and Practo. In January 2015, online real estate platform, CommonFloor.com, received a new round of funding from Google Capital. This was Google Capital’s third investment in Asia and second in India. The investment in CommonFloor was Google Capital’s third investment in Asia.

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Source – TechCircle

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