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Newest unicorn in town: Cars24 raises $200 mn in Series-E funding

The company was valued at over $1 bn in the funding round led by DST Global

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CARS24 recently forayed into the used two-wheelers category and, in less than six months of operations, it has already seen over 3,000 two-wheeler transactions

T E Narasimhan Peerzada Abrar Chennai/Bengaluru

5 min read Last Updated : Nov 25 2020 | 12:55 AM IST

Cars24, a leading online transaction platform for pre-owned vehicles, has become the latest unicorn or start-up valued at more than $1 billion. The Gurugram-based firm has raised $200 million in a Series E funding round led by Russia-born billionaire Yuri Milner's DST Global at a post-money valuation of over $1 billion.

The valuation of the online marketplace for used cars has doubled from $500 million (when it had raised $100 million financing in October last year). Existing investors, including Exor Seeds, Moore Strategic Ventures, and Unbound, have also participated in the fresh deal.

This funding will be used to invest aggressively in

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