India-based online automotive marketplace Droom has raised Rs 1bn ($15.6m) in a round co-led by e-commerce company Beenos and venture capital fund Lightbox Ventures, the Economic Times reported on Wednesday.
Droom launched its mobile-focused automotive marketplace in November 2014. The platform currently has around 6,500 vehicles listed, and Droom takes a 2% cut on every sale.
The series A funding comes in the wake of a deal struck with Mahindra First Choice, which will enable Droom to make use of both its vehicle inspection services and its vehicle pricing engine, Indian Blue Book. Droom plans to use the cash to fund its expansion into Southeast Asia.
Japan-based Beenos previously provided an undisclosed amount of seed funding for Droom, according to Hindu Business Line.