India-based online automotive marketplace CarDekho has increased its series C round to approximately $129m following an extension that included Kreatif Media Karya, a subsidiary of media group Emtek, YourStory reported on Friday.
India Mobility Holdings led the Rs 1.3bn ($19m) extension, participating together with investment firm Hillhouse Capital, and the tranche valued the company at approximately $500m.
The company had raised $110m for the round as of January 2019, with internet and technology group Alphabet CapitalG’s unit joining financial services firm Axis Bank, Sequoia Capital, Aquila Capital, Hillhouse Capital and RNT Associates for that close.
The $75m first tranche was backed by digital marketing firm Dentsu, media group Bennett, Coleman & Co, financial services firm HDFC Bank and Tybourne Capital in October 2018.
CarDekho runs an online platform that enables customers in India, Indonesia, Malaysia, the Philippines and the United Arab Emirates to buy, sell, review and compare cars. It recently launched an insurance platform called InsuranceDekho as well as a retail auction platform for pre-owned cars.
CapitalG led a $15m round for the company in 2016, investing alongside Hillhouse Capital, a year after it had received an undisclosed amount from HDFC.
Sequoia, Hillhouse Capital, Tybourne Capital and Ratan Tata backed a $50m round for CarDekho in 2015, adding to an investment of undisclosed size by Sequoia in 2013.