Private Equity Fund Investments
Automobile marketplace Droom raises $200-M from 57 Stars, Seven Train, others
Gurugram-based online automobile marketplace Droom has received the first tranche of its USD 200-million, pre-IPO funding round at a valuation of USD 1.2 billion, making it the the latest entrant into the coveted unicorn club. Existing and new investors, such as 57 Stars and Seven Train Ventures, participated in the fundraising. Droom - which is the 17th Indian unicorn so far this year - will use the funds to grow its presence in Top 100 cities of India and international markets and augment its last-mile delivery service. The company is now gearing to go public either on NASDAQ or in India next year.
From the Venture Intelligence PE-VC Deal Database: Between Oct-14 and Oct-18, Droom had raised funding from Toyota Tsusho, Beenext, Digital Garage, Beenos Partners, Lightbox, Joe Hirao, Integrated Capital and Axis Capital Partners
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