 "used cars")
The year 2021 has been remarkable for the Indian start-up industry. The country added 54 unicorns, the third highest in the world, only behind China and the USA. Even within this funding glut, one sector has been an investors’ favourite — the online used car platform.
A sector once dominated by traditional car makers such as Maruti Suzuki’s True Value and Mahindra & Mahindra’s First Choice has seen a surge of start-ups — Cars24, CarDekho, Spinny, CarTrade. Investors have been super-bullish about their tech-driven, asset-light business model — all the four companies turned unicorn in 2021 with CarTrade listing on
