Google Capital invests in India's CarDekho

According to a statement, the capital will be used to advance the company's technology and R&D efforts as well as consolidate service offerings both within India and internationally.

"The team is led by savvy entrepreneurs with a strong product orientation, who have positioned the company perfectly in a rapidly growing market," David Lawee, a partner at Google Capital said. "We hope that through our investment and ongoing support, we'll help them cement their position in India, as the destination for all car related information and transactions, and grow into new markets regionally and globally."

CarDekho's parent company Gimar Software currently operates in India, Malaysia, Thailand, Vietnam, the Philippines and Indonesia. The investment is expected to facilitate a push into other emerging economies in both Asia and the Middle East.

The website was founded in March 2008 as a source of automotive news and reviews as well as a platform for selling new and used vehicles, taking out insurance and securing purchase loans. 

Hillhouse led a $50 million Series B round for Girnar last year which valued CarDekho at $300 million and included participation from Tybourne Capita and Sequoia Capital. Sequoia invested $15 million in the company in 2013.

Founded in 2013, Google Capital focuses on companies that disrupt markets using long-term technology trends. The late-stage growth fund targets both consumer and enterprise-focused companies.

The growth potential of India's online car trade has been demonstrated recently by a number of investments in CarDekho's competitors. These include a $145 million round led by Temasek Holdings for CarTrade and $15 million commitment from Valiant Capital Management for Mahindra First Choice Wheels.

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• Topics
• South Asia
• Consumer
• Expansion
• Technology
• India
• Hillhouse Capital Management
• automobiles