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Droom raises $30M from Japanese investors

Droom has raised $30 million in a Series E round led by the family office of Japanese investor Joe Hirao. Another unnamed Japanese family office participated in the round, per Mint. The Gurgaon–based online automobile marketplace claims to have 75% of the market share of automobile transactions online. Droom will use the funding for Provide competitive terms and interest rates for Droom Credit, its instant loan service launched in 2017 Improve Eco - its country-wide inspection service Improve certification services, such as calculating Orange Book Value, the resale value for a used automobile Strengthen marketplace formats C2C and C2B Scaling up technology, developing machine learning and AI Investments in IoT and blockchain for credit services Expand operations in over 100 cities, as well as internationally Droom's previous funding In May, Droom raised $30 million in led by Toyota Tsusho and existing investor…

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