Automotive (Used-Car Marketplace)Gurugram, Haryana, India
Cars24 is a Gurugram-based used-car marketplace spanning buying, selling, financing and servicing, now rebuilt around AI across pricing, inspections, logistics and risk. Its Cars24 Labs arm invests in AI-first products and early-stage founders as the company prepares for a public listing.
2StartupFox stories
2015Founded
Automotive(Used-Car Marketplace)Sector
Sept 2026Latest coverage
Funding
Cars24 has raised $950M across 3 disclosed rounds, most recently a Series G (equity) in Dec 2021.
$950MRaised
Series G (equity)Latest round · Dec 2021
$3.3BValuation
3Events
Series G (equity)Dec 2021confirmed
$300M
InvestorsAlpha Wave Global (lead), existing investors
Valuation$3.3B
Announced as a $400M raise including ~$100M cumulative debt from financial institutions across India, Australia and the UAE
Tap any bar to see that round
Dec 2021Series G (equity)$300MAlpha Wave Global (lead), existing investors $3.3BTechCrunch ↗
Sep 2021Series F$450MDST Global, Falcon Edge, SoftBank Vision Fund 2 (leads), Tencent, Moore Strategic Ventures, Exor Seeds ~$1.84BGulf News ↗
Nov 2020Series E$200MDST Global (lead) $1B — India's first used-car e-commerce unicornTechCrunch ↗
Valuation journey
Price marks from disclosed rounds — Cars24 has been a unicorn since Nov 2020.
Founded in Gurugram by Vikram Chopra, Mehul Agrawal, Gajendra Jangid, Ruchit Agarwal.
Nov 2020 · funding
Series E — $200M, led by DST Global (lead).
Sep 2021 · funding
Series F — $450M at ~$1.84B, led by DST Global.
Dec 2021 · funding
Series G (equity) — $300M at $3.3B, led by Alpha Wave Global (lead).
1 Jun 2026 · milestone
Launches Cars24 Labs with a $20M (~₹170 Cr) commitment to build AI-first products and back early-stage founders; internal AI rebuild has driven a reported 50% rise in revenue per employee. ↗
IPO Watchreported
StatusIPO-bound
Widely reported as IPO-bound; appointed Infosys CFO Jayesh Sanghrajka as independent director in Jun 2026 ahead of the listing process. Source ↗
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Cars24 is a Gurugram-based used-car marketplace spanning buying, selling, financing and servicing, now rebuilt around AI across pricing, inspections, logistics and risk. Its Cars24 Labs arm invests in AI-first products and early-stage founders as the company prepares for a public listing.
Who founded Cars24?
Cars24's founders and leadership on record at StartupFox are Vikram Chopra, Mehul Agrawal, Gajendra Jangid and Ruchit Agarwal.
How much funding has Cars24 raised?
Cars24 has raised $950M across 3 disclosed rounds. The most recent was a $300M Series G (equity) in Dec 2021.
Who are Cars24's investors?
Disclosed investors in Cars24 include Alpha Wave Global (lead), existing investors, DST Global, Falcon Edge, SoftBank Vision Fund 2 (leads), Tencent, Moore Strategic Ventures, Exor Seeds, DST Global (lead).
What is Cars24's valuation?
Cars24 was last reported at $3.3B, at the time of its Series G (equity) in Dec 2021.
Is Cars24 profitable?
Per its FY24 consolidated filing, Cars24 reported ₹6,917 Cr in revenue.
What is the status of the Cars24 IPO?
IPO-bound. (As reported; not confirmed by the company.)
What is the latest news on Cars24?
The most recent StartupFox coverage is “Cars24 Cannot File Its IPO Papers Until April 2027, After The Reverse Flip” (28 September 2026). All stories are listed on this page.
Sources & updates
This profile is compiled by the StartupFox desk from company announcements, regulatory and exchange filings (RoC/MCA, NSE/BSE) and our own reporting. 3 of 3 funding rounds link to a named source.
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