Gurugram-primarily based on-line car transactional market, Droom has announced its foray into the new automobiles’ phase.
Based in 2014 by former Shopclues CEO, Sandeep Aggarwal together with Rishab Malik, Droom allowed customers to shop for and promote used vehicles. It’s miles a mobile-first marketplace with a presence on three systems i.E. Android, iOS and desktop.
Sandeep Aggarwal, founder and CEO, Droom stated, “Earlier we wanted to cognizance at the used-vehicle section and trade the manner it features thru the use of digital equipment. In the same vein, we want to now create a paradigm shift In the nevertheless conventionally-run new vehicle sector and bring about a tremendous disruption for the advantage of the stop consumer.”
Already established as a used-automobile buying and selling platform, Droom’s new vertical release right before the festive season will bolster its position as a one-stop-shop for purchasing and promoting automobiles.
At the side of the release of the brand new class, Droom is introducing new initiatives like a financial institution loan (up to 50% of car fee pre-accredited), door-step test force and many others. Droom has also tied up with major brands which includes Nissan, Chevrolet, Skoda, Mahindra, and Hero Electric powered.
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According to a corporation declaration, Droom currently has over 74K+ B2C dealers, 25K+ merchandise, 102K+ listings. It also claims to have a listed GMV of $796 Mn. It claims to have sold 30K used-vehicles until date.
Earlier this year in June, Droom had raised an undisclosed amount in its series B round of investment led via Singapore-based totally early degree tech fund BEENEXT, and virtual Garage of Japan. Current investors LightBox Ventures and Beenos also participated Within the spherical.
In August, it released an OrangeBookValue (OBV) vacation spot website, on its Android and iOS apps, more than one partnership and third-birthday celebration internet publishers’ widget. OBV lets in users to measure the truthful market value for any used automobile, with the assist of simple parameters like make, model, yr, trim, and kilometres pushed.
Other gamers in this phase consist of OLX, Quikr, Carwale, Cardekho. Com, Spinny, and Zoomo, among others.