<article>Online marketplace for used automobiles Droom is looking to raise up to $50 million next year, while Tata Sons is planning to set up a startup incubator.</article>

Online marketplace for used automobiles Droom is looking to raise up to $50 million next year, while Tata Sons is planning to set up a startup incubator.
<h3>Droom looks to raise up to $50 million funding next year</h3>
After raising around $33 million in its Series B round of funding earlier this year, online marketplace for used automobiles <a style="color: #000080;" href="http://dealstreetasia.com/tag/droom" target="_blank">Droom</a> is in the market again to raise around $50 million.
According to<a style="color: #000080;" href="http://epaperbeta.timesofindia.com/index.aspx?eid=31815&amp;dt=20161121" target="_blank"> a report</a> in The Economic Times citing sources, Droom has already begun early talks with potential investors to raise $30-50 million. It expects to close the funding round early next year.
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So far, the company has raised about $45 million across from investors, including venture capital firms <a style="color: #000080;" href="http://dealstreetasia.com/tag/lightbox" target="_blank">Lightbox</a> and <a style="color: #000080;" href="http://dealstreetasia.com/tag/beenext" target="_blank">Beenext</a>, e-commerce operator <a style="color: #000080;" href="http://dealstreetasia.com/tag/beenos" target="_blank">Beenos</a>, Japan&#8217;s <a style="color: #000080;" href="http://dealstreetasia.com/tag/digital-garage" target="_blank">Digital Garage</a>, Hong Kong-based investment company Integrated Asset Management, and <a style="color: #000080;" href="http://dealstreetasia.com/tag/axis-capital" target="_blank">Axis Capital</a>.
In June this year, the company had closed its Series B round led by Singapore’s Beenext and Japanese incubator and venture capital firm Digital Garage.
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<h3>Tata Sons plans to set up startup incubator</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/tata-sons" target="_blank">Tata Sons</a> is planning to set up an incubator for which it is already in the process of laying out the blueprint. The incubator is likely to come up in Bengaluru or Pune, according to <a style="color: #000080;" href="http://tech.economictimes.indiatimes.com/news/startups/tata-sons-looks-to-set-up-an-incubator-in-bengaluru-or-pune/55534271" target="_blank">a report</a> in The Economic Times.
The basic process for the plan would be completed over the next three months, said Gopichand Katragadda, chief technology officer of Tata Sons.
“We would provide visibility to the group companies for these startups. Meanwhile, we are also looking for startups at events&#8230;to see if we can incubate any of them,“ he said.
The company is also incubating new businesses within the group, the first of which, an e-commerce venture, <a style="color: #000080;" href="http://dealstreetasia.com/tag/cliq" target="_blank">TataCliq</a> was launched recently. It is also incubating a venture in the big data analytics and one in the digital health space, as per the report.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-auto-platform-droom-raises-series-b-led-by-beenext-japans-digital-garage-42849/" target="_blank">India: Auto platform Droom raises Series B led by Beenext, Japan’s Digital Garage</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/exclusive-auto-marketplace-droom-in-acquisitive-mode-eyes-se-asia-foray-soon-42893/" target="_blank">Exclusive: Auto marketplace Droom in acquisitive mode, eyes SE Asia foray soon</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/tata-group-launches-e-commerce-portal-tatacliq-42415/" target="_blank">India: Tata Group becomes latest entrant into e-commerce with TataCLiQ</a>
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Online marketplace for used automobiles Droom is looking to raise up to $50 million next year, while Tata Sons is planning to set up a startup incubator.

India Digest: Droom eyes $50m funding; Tata Sons to set up incubator

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India Digest: Droom eyes $50m funding; Tata Sons to set up incubator

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