Angel Investments

Pre-owned vehicle platform Sheerdrive raises funds led by Jito Angel Network

Entrepreneur.com  

SheerDrive, a Mumbai-based Digital AI/ML pre-owned vehicle platform, has closed its pre-Series A funding from a clutch of investors. The funding round was led by Jito Angel Network and supported by angel investor group INSEAD Angels, along with HNIs (high networth individuals), and backed by existing investors Group Landmark (a TGP-invested company), Volrado Venture Fund, and Prajit Nanu (co-founder,NIUM). The funds will be used to expand SheerDrive's footprint across India, as well as further developing the company's AI/ML-based intelligent VIAR technology platform to its next version of operational capability. Set up in April 2020, SheerDrive claims to be present in 19 cities, having enabled used-car transactions worth over USD 40 million.

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