CarTrade Tech Limited, one of India's leading automotive platforms, launches its new initiative, CarTrade Ventures which a plan to invest up to Rs 750 crore over a period of five to seven years to strategically acquire and invest in companies in the automotive space.
The capital planned to be invested is generated through profits generated and funds available in the company. The group company will deploy Rs 750 crore to strengthen its position as a leading automotive platform in India.
The group will actively look to acquire and invest in companies that are driving innovation in all aspects of the automobile ecosystem including auto finance, leasing, insurance, servicing, car ownership, electric vehicles, clean energy, and new-age technologies such as augmented reality, artificial intelligence, and visualisation, to digitalisse the auto buying journey. In addition to capital, CarTrade Ventures will bring unique value to the companies through synergies with group companies and access to customers and technology, thereby helping these companies scale rapidly.
Commenting on the same, Vinay Sanghi, Founder and Chairman, CarTrade Tech Group, added, “We have launched CarTrade Ventures to invest in new age technologies and to digitalise the buying, selling, and ownership of vehicles, and be a key enabler in the growth of the auto ecosystem. To facilitate this, we are looking to deploy up to Rs 750 crore for acquiring and investing in companies that are driving innovation in the global auto ecosystem, so that we can offer the consumer a great online auto shopping and ownership experience. We have been very successful in growing our business organically and inorganically and are very excited about partnering with entrepreneurs who share the same vision and passion.”
