India: Cars24 turns unicorn with $200m funding led by DST Global

India: Cars24 turns unicorn with $200m funding led by DST Global

Photo: Reuters

Cars24, which offers a tech-enabled platform to customers to buy and sell pre-owned vehicles, has raised $200 million in its Series E round, taking the company’s valuation to over $1 billion. With this fund-raise, the startup joined the unicorn club, and claimed it is the only startup in the mobility sector to achieve a unicorn valuation.

The funding round has been led by billionaire Yuri Milner’s fund DST Global that also pumped in $122 million into edtech startup Byju’s earlier this year. Existing investors including Exor Seeds, Unbound and Moore Strategic Ventures also participated in the round.

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