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Used car listings platform Truebil raises $3 million

Mumbai based Truebil, an online marketplace for used cars, has raised $3 million in a follow-on round of series A funding from Chinese venture capital firm Shunwei Capital. The startup will use the funding for improving its technology and hiring. The company had earlier raised $5.5 million in Series A round of funding from Kalaari Capital, Inventus Capital and San Francisco-based Tekton Ventures in February last year. It had also secured a seed round worth $500,000 from Kae Capital and angel investor Anupam Mittal. Truebil mentions that it recently launched Truebil Direct, an offline platform for pre owned cars based on an inventory model, other than launching its B2C dealer digitization platform ‘Truebil Privilege Partner’. On the consumer front, Truebil, also available as an Android app, offers a platform which that recommends based on user input. Users can search by…

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