wordpress blog stats
Connect with us

Hi, what are you looking for?

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 brand or car model, after which it lists multiple features and information about the cars, including owner info, child locks, tubeless tyres, fog lamps, air bags, ABS etc. It inspects the cars and assigns them a score. Further, the company also adds its own services like service warranty, car loans and insurance which can be bought.

Competition

Advertisement. Scroll to continue reading.

Truebil competes with services like QuickCars which offers user cars and bikes classifieds, reviews and relevant content. Similar players include CarTrade which recently raised $5.5 million in funding, GrinarSoft owned CarDekho, which acquired the Times Internet auto portal Zigwheels in 2015, and Bangalore-based GoZoomo which raised $5 million from SAIF partners in July 2015. GoZoomo, however, shut down its operations in August last year citing unsustainable unit economics.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ