CarDekho.Com raises USD 50 mn in second round of fund infusion

CarDekho.Com, the flagship portal of GirnarSoft, has raised USD 50 million (over Rs 300 crore) in the second round of fund infusion.
The funding was led by Hillhouse Capital with participation from Tybourne Capital and Sequoia Capital, the company said in a statement.
"Elara Capital acted as the exclusive financial advisor to the transaction. With this, the parent company Girnar Software is now valued at USD 300 million," it added.
GirnarSoft CEO and Co-Founder Amit Jain said company's aim is to have a global footprint through its innovative products and services.
"This is the largest quantum of fund raise in this segment in India so far. We see the second round of investment as an endorsement of our strategy and progress so far," he added.

The company's revenues have grown three-fold since 2013 when it received first round of funding from Sequoia, Jain said.
"This is the time we are looking to rapidly expand our business and therefore the funding adds to our fast paced growth in the online auto portal segment," he added.