HomeStartup NewsStartup Street: Cars24 raises $450 mn; Mylab acquires Sanskritech

Startup Street: Cars24 raises $450 mn; Mylab acquires Sanskritech

E-commerce platform for pre-owned vehicles Cars24 raised $450 million. This included a $340-million Series F equity round along with $110 million in debt from diversified financial institutions. Startup Street caught up with Cars24 Co-Founder and Chief Operating Officer Mehul Agrawal.

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By CNBC-TV18 September 20, 2021, 9:06:36 PM IST (Updated)

Startup Street: Cars24 raises $450 mn; Mylab acquires Sanskritech
E-commerce platform for pre-owned vehicles Cars24 raised $450 million. This included a $340-million Series F equity round along with $110 million in debt from diversified financial institutions


The Series F equity round was led by DST Global, Falcon Edge and Softbank Vision Fund 2 along with participation from a whole host of other investors. The company's valuation nearly doubled to $1.84 billion post this fundraise

To talk about the fundraise and the road ahead at Cars24, Startup Street spoke to its Co-Founder and Chief Operating Officer Mehul Agrawal.

While it has been glitzy in the startup world over the past year, with record numbers of unicorns and funding, it is important to also look at the challenges in starting up, and the fact that many startups fail.

Insurtech platform BimaPe is shutting down, Founder Rahul Mathur tweeted last week, wherein he cited the mistakes made, and added that the company is pivoting to another product called Verak Insurance. To talk about the learnings from the journey, Rahul Mathur, spoke to Startup Street.

Read Here: Startups that tried to make it big but perished in last one year

Diagnostics company Mylab has acquired a majority stake in point-of-care startup Sankritech. Mylab’s investment in Sankritech will be used to develop affordable point-of-care labs with more than 70 tests. CNBC-TV18's Nisha Poddar spoke to MD and Co-founder of Mylab Hasmukh Rawal about this acquisition and the company's spends.

Watch accompanying video for more.

Also Read: FUNDING RUNDOWN: Delhivery raises $76.4 mn; Cars24 gets $259 mn

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