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CarDekho raised $250 million led by LeapFrog; joins unicorn club at $1.2 billion valuation

Girnar Software Pvt. Ltd, which runs CarDekho, an online portal for new and used cars raised $250 million in Series E at a valuation of about $1.2 billion led by LeapFrog Investments with participation from Mirae Asset Group and existing investors, making it the newest entrant to India’s growing list of unicorns

Current investment nearly doubled Cars24’s valuation from last November, and it is now looking to expand overseas to Southeast Asia even as it looks to open larger format stores to grow its presence in metro and non-metro cities across India

“Bigger stores will give us economies of scale and more leverage on manpower efficiency. We will go with the top three-four cities and try different formats," Amit Jain, co-founder and chief executive of CarDekho, said at the time.

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