CarTrade Tech launches CarTrade Ventures

CarTrade Tech Ltd, one of India's leading automotive platforms, launches CarTrade Ventures which plans to invest up to Rs 750 crores over a period of 5 to 7 years to strategically acquire and invest in companies in the automotive space. The capital invested is through profits generated and funds available in the company. As stated before, the company intends to deploy up to Rs 750 crores to strengthen its position as a leading automotive platform in India by acquiring and investing in companies which will help it to either enter a new market or segment or to bring new products and technologies to existing customers.

The group is actively looking to acquire and invest in companies that are driving innovation in all aspects of the automobile ecosystem which includes auto finance, leasing, insurance, servicing, car ownership, electric vehicles, clean energy and new-age technologies such as augmented reality, artificial intelligence and visualization, to digitalize the auto buying journey. In addition to capital, CarTrade Ventures will bring unique value to the companies through synergies with group companies and access to customers and technology, thereby helping these companies scale rapidly.

Over the last few years, CarTrade Tech has successfully acquired and integrated CarWale – a leader in the online new and used car space, Shriram Automall (SAMIL) – a leader in the auto auction space, BikeWale – a leader in the 2-wheeler online space and Adroit Auto – a leader in auto inspections and valuations.

Commenting on the same, Mr. Vinay Sanghi, Founder & Chairman, CarTrade Tech Group added, “We have launched CarTrade Ventures to invest in new age technologies and to digitalize the buying, selling and ownership of vehicles, and be a key enabler in the growth of the auto ecosystem. To facilitate this, we are looking to deploy up to Rs. 750 crores for acquiring and investing in companies that are driving innovation in the global auto ecosystem, so that we can offer the consumer a great online auto shopping and ownership experience. We have been very successful in growing our business organically and inorganically and are very excited about partnering with entrepreneurs who share the same vision and passion.”