
Cars24
Founded Year
2015Stage
Debt - V | AliveTotal Raised
$1.296BValuation
$0000Last Raised
$100M | 3 yrs agoRevenue
$0000Mosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
+6 points in the past 30 days
About Cars24
Cars24 is an auto tech company that focuses on the sale, purchase, and financing of pre-owned cars. The company offers an online marketplace for buying and selling used cars, complemented by a suite of services including car financing, quality checks, warranties, and seamless documentation for transactions. Cars24 primarily serves the automotive industry with a customer base looking for pre-owned vehicle solutions. It was founded in 2015 and is based in Gurgaon, India.
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Expert Collections containing Cars24
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Cars24 is included in 4 Expert Collections, including E-Commerce.
E-Commerce
11,245 items
Companies that sell goods online (B2C), or enable the selling of goods online via tech solutions (B2B).
Unicorns- Billion Dollar Startups
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Companies involved in the rental, selling, trading, or purchasing of cars, RVs, trucks, and fleets, including auto financing companies, vehicle auction services, online classified advertising companies with a focus on auto, and dealership software platforms.
Tech IPO Pipeline
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The tech companies we think could hit the public markets next, according to CB Insights data.
Latest Cars24 News
Apr 9, 2025
SHARE SUMMARY TBO Tek has automated 70% of special travel requests using AI voice bots, significantly reducing response time, TBO Tek's customer experience VP Garima Pant said at Inc42’s 'The GenAI Summit' Cars24's VP of engineering Deepak Gupta recommended building in-house AI solutions for complex use cases with rich context, while simpler problems can be effectively addressed with outsourced NLP-based solutions Around 60% of clients have moved to GenAI with consistent accuracy rates of around 89%, with companies focusing more on providing better context to foundation models than fine-tuning, said CoRover.ai's Ankush Sabbharwal Travel tech company TBO Tek has been leveraging GenAI for automation and about 70% of special requests from travel agents are now being handled by AI voice bots, the company’s customer experience VP Garima Pant said. “We are able to cater to almost 70% of special requests globally through voice bots,” Pant said during a panel discussion at Inc42’s ‘The GenAI Summit’ today. She added that AI has significantly reduced response time for special requests from travel agents. Earlier, such requests required a person to make amendments to the system but are now completely handled using GenAI. The range and complexity of the requests that the system can handle has multiplied. OfBusiness cofounder and CBO Nitin Jain, CoRover.ai founder and CEO Ankush Sabharwal, Swiggy’s VP of data science and analytics Goda Ramkumar, and Cars24’s VP of engineering Deepak Gupta were among the other members of the panel, who held discussions on the topic, ‘Riding The Conversational AI Wave: What’s Next?’. Should Conversational AI Be Built In-House Or Outsourced? Giving her views on the topic of building or outsourcing AI solutions, Gupta suggested that simpler use cases can be outsourced. “If the problem statement is not really very complex, NLP (natural language processing)-based things can work it out,” he said. For complex implementations, he recommended developing solutions in-house. “If you are really very context rich and have very complex use cases of intent and entities, then (considering) the way you know your business… it makes (sense to) build your own solution,” he said. Gupta revealed that when Cars24 made LLM-based chatbots one-and-a-half year ago, the bots achieved only 50% accuracy with NLP-based solutions due to language variations in customer queries. Sharing adoption numbers, Sabharwal, whose company builds conversational AI solutions, said, “60% of our clients have moved to GenAI and 40% are still with classic NLP intent classification and entity extraction.” Despite the shift to GenAI, Sabharwal noted that accuracy rates have remained consistent. “The accuracy did not change from earlier classic NLP to GenAI. It’s been consistent… 89% average accuracy,” he added. Meanwhile, Swiggy’s Goda highlighted the need for voice interfaces, especially for delivery partners. “For them, it should be much more voice based because you are on the road, you are driving,” she said. The panel discussion also revealed that companies are moving away from fine-tuning models and are instead focussing on providing better context to foundational models for more effective AI implementation.
Cars24 Frequently Asked Questions (FAQ)
When was Cars24 founded?
Cars24 was founded in 2015.
Where is Cars24's headquarters?
Cars24's headquarters is located at 10th Floor, Tower B, Unitech Cyber Park, Gurgaon.
What is Cars24's latest funding round?
Cars24's latest funding round is Debt - V.
How much did Cars24 raise?
Cars24 raised a total of $1.296B.
Who are the investors of Cars24?
Investors of Cars24 include DST Global, Moore Strategic Ventures, EXOR Seeds, SoftBank, Alpha Wave Global and 36 more.
Who are Cars24's competitors?
Competitors of Cars24 include Spinny, Carma, Droom, Carsome, Cazoo and 7 more.
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Compare Cars24 to Competitors

Spinny is a platform that focuses on the buying and selling of used cars within the automotive industry. The company provides a selection of pre-owned vehicles that have undergone inspections, along with a return policy and a service warranty. Spinny serves individual consumers looking for second-hand cars and those wanting to sell their vehicles. It was founded in 2015 and is based in Gurugram, India.

CarDekho provides digital automotive solutions that specialize in the sale and purchase of new and used cars. It offers a platform for car buyers to search, compare, and make informed decisions on vehicle purchases, as well as facilitating finance and insurance services for used cars. It primarily serves individual car buyers and sellers, as well as partnering with automotive dealerships, financial institutions, and insurance companies. It was founded in 2008 and is based in Jaipur, India.
VavaCars operates as a technology-enabled used car platform that provides a transparent and hassle-free car-buying experience, leveraging its proprietary pricing and inspection technology to make car ownership accessible and affordable. In addition to buying and selling used cars, VavaCars also offers ancillary services such as servicing and extended warranty, providing customers with a comprehensive and convenient car ownership solution. It was founded in 2019 and is based in Istanbul, Turkey.

Mahindra First Choice Wheels operates in the automotive retail and technology sectors. It focuses on the used auto platform. The company offers a range of pre-owned vehicles, including cars and bikes, and provides services such as vehicle procurement, warranty products, and roadside assistance. Mahindra First Choice Wheels serves the automotive retail market, focusing on used car sales and enterprise solutions for financial institutions. It was founded in 2008 and is based in Mumbai, India.

Droom specializes in facilitating the buying, selling, and trading of new and used vehicles. Droom offers a suite of services, including vehicle inspection, certification, loans, insurance, and other automobile-related services. The company primarily serves the automotive e-commerce industry. It was founded in 2014 and is based in Gurugram, India.

Motorway is a technology-driven company in the automotive sector that specializes in facilitating the sale of used cars. The company offers an online platform where car owners can receive instant valuations, create profiles for their vehicles, and receive competitive offers from a network of dealers. Motorway's service includes free home collection of the vehicle and fast payment, streamlining the car selling process for consumers. It was founded in 2017 and is based in London, United Kingdom.
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