PE Fund Investments
Used car marketplace Droom to raise $3-M led by Finvolve, IA Growth Opportunities Fund
Gurugram-based, IPO-bound used car marketplace Droom is raising INR 25 crore (approximately USD 2.9 million) in a fresh funding round co-led by Finvolve and IA Growth Opportunities Fund II, and Rameshchandra Shah. The round also includes participation from investors including Rajkumar Sorathi, Hardik Kothiya and Shirish Patel.Finvolve and IA Growth Opportunities Fund II and Shah will invest INR 5 crore each, Shirish Patel, CEO of Prudent Corporate Advisory, will invest INR 3 crore and the remaining amount will be invested by others.Founded in 2014 by Sandeep Aggarwal, Droom is an online marketplace for buying and selling used vehicles, including cars, motorcycles, and electric vehicles. It also offers rental services.
Between Oct 2014 and Jul 2021, Droom had attracted about USD 315 M from Beenos Partners, Lightbox, Digital Garage, Beenext, Integrated Capital,Toyota Tsusho, Joe Hirao, 57 Stars, SevenTrainVentures and others.
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