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.
1StartupFox story
2015Founded
Automotive(Used-Car Marketplace)Sector
Jun 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 ↗
The rest of Cars24's profile is free
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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 is associated with Vikram Chopra, Mehul Agrawal, Gajendra Jangid, 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 “IPO-Bound Cars24 Commits $20 Million to Launch AI Labs and Invest in Startups” (1 June 2026). All stories are listed on this page.
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