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GirnarSoft invests in car testing firm Advanced Structures India

cardekho

GirnarSoft, the parent company of CarDekho, Gaadi and Zigwheels, has made a strategic investment in the car testing and benchmarking firm Advanced Structures India (ASI). With this investment, ASI will provide the technical backend for reviewing cars listed on CarDekho.

Founded in 2014 by Vaibhav Kumar and Rahul Ramola, ASI also offers various automotive design and testing facilities like for bus body engineering. The testing, simulation and design solutions provided by the company enable clients to prototype vehicle designs. Its current clients include Ather, Ashok Leyland, Rane and Compass group.

GirnarSoft acquisitions: Earlier this month GirnarSoft acquired roadside assistance company Help On Wheels in an all cash deal. At the time, the company said that this acquisition would help it boost its roadside assistance vertical.

In December, GirnarSoft acqui-hired Drishya360s, an augmented reality and video production startup in a cash and stock deal, for an undisclosed amount. In September 2015, CarDekho acquired Times Internet* owned auto portal Zigwheels for an undisclosed amount. In the same month in 2014, it acquired Gaadi. In April 2015, the company acquired price comparison website BuyingIQ for the team and their technology.

New auto portals: Note that in January, GirnarSoft had said that it planned to launch multiple automobile verticals including ones for batteries, light commercial vehicles, insurance and hyperlocal roadside assistance services in the next few months. GirnarSoft’s new and old products would transition from being content platforms to ecommerce platforms, while it planned to expand to the Middle East and African regions, and take its new platforms there.

GirnarSoft funding: Last month, GirnarSoft raised an undisclosed amount of funding from Google Capital and participation from existing investors. The company had said then that it would use the funds for technology, R&D and expansion within and outside India. n April 2015, the company raised an undisclosed amount of investment from HDFC Bank, about three months after raising Series B funding worth $50 million.

Layoffs at GirnarSoft: Earlier this month, GirnarSoft laid off 60 people in the company in a round of restructuring. At the time, GirnarSoft added that it would be increasing its staff size to 3,500 by the first quarter of 2016-17.

Other developments:

– In December, GirnarSoft invested $1 million in Gurgaon based CollegeDekho, an online platform which lists college across streams in the country and offers test preparation material.

– In the same month, it appointed Umesh Hora, former CFO of Zomato, as it chief financial officer (CFO). In the same month, Girnar Software also appointed Shobhit Mathur as director of strategy.

– In July, CarDekho launched CarBay, a portal which would provide information on cars in Malaysia and Thailand.

– In May, CarDekho launched a new platform called TyreDekho, which would provide users with tyre-related research tools, reviews and other content. In the same month, it launched 3 websites in Hindi, Tamil and Telugu.

*Disclosure: Times Internet is an advertiser with MediaNama

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