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Sequoia backs Indian online marketplace creator Girnar Software with $15m

2 Dec 2013

autointerior_lrgVenture investment giant Sequoia Capital has invested $15m in the owners of Indian vehicle marketplace CarDekho and shopping price comparison website PriceDekho.

The financing for Girnar Software Private will be used to expand CarDekho’s online platform and improve its mobile app.

Sequoia Capital India Advisors principal Shailesh Lakhani will join the company’s board following the deal.

He said, “India is one of the largest car markets in the world, and the purchase of a car is amongst the most considered decisions for a consumer.

“As most consumers begin their search for a new or used car online, [founders Amit and Anurag Jain] have built the ideal product to help them research, compare, and begin a purchase transaction.

“We are delighted to partner with them to scale their business to new heights.”

In October Sequoia Capital led an INR1bn ($16.3m) funding round for Indian maternity and infant care provider Cloudnine.

Existing backer Matrix Partners India also participated in the round, which will fund the launch of 10 new centres within the next two years.

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