India-based online automotive dealer Droom has raised $20m in a series C round featuring internet company Digital Garage and e-commerce company Beenos, Times of India reported on Tuesday.
Hong Kong-based investment manager Integrated Asset Management led the round, which included venture capital firms Lightbox and Beenext, all five participating as existing investors.
Founded in 2014, Droom runs an online marketplace where users can buy or sell new and used vehicles.
The company, which claims to operate in more than 500 cities, will use the series C funding to strengthen its platform, make further acquisitions and grow its portfolio of brands.
The latest round brought Droom’s total funding to $65m, according to TOI. Digital Garage took part in a June 2016 series B round sized between $25m and $30m that included Lightbox and Beenext, after Beenos and Lightbox led its $15.6m series A in mid-2015.