As every industry move on towards digital, now automobile marketplace too get steep growth in online. The Droom Technology Pvt. Ltd one of the famous online based marketplaces for automobile has recently managed to raise the whooping amount of $20 million.
Statement released by the company
Droom, established in 2014 April by Sandeep Aggarwal. According to the statement, released by the company on its series C turnover, led by the Japan’s Digital Garage and the Integrated Asset Management. With respect to the statistics value quoted by the company official during the statement release, the company manages to attain about 350% growth on yearly basis with the gross merchandise volume of $554.
In addition to that, the officials of the firm released the unbelievable counts of over 159,000 auto dealers in online platform. The reports of July 2016, predicts that the external funding of the firm has faced steep raise in the series B among the several investing firms Digital Garage (one of the leading Japanese internet company), Lightbox, Beenos and also from venture capital fund beenext.
Online Automobile Portal
The online platform for used automobile selling like Droom and Space is getting matched with the Truebil, Zoomo, Gaadi, CarDekho and Carwale. At the same time, the sellers like OLX, Quikr who are well famous for performing online based marketplace too equals the similar amount of transactions in last FY.
After witnessing such high gain in the online automobile platform, the firm is now planning to expand their operations to Southeast Asia by getting proper registration under the NASDAQ by around the 2019. In terms of e-commerce and economic growth, India is the next china and the nation has the potential consumers who are willing to make use of the internet for their automobile purchase.