What is Carro?
Founded in 2015 and headquartered in Singapore, Carro operates as a comprehensive automotive marketplace, offering a full-stack service for all facets of car ownership. The company distinguishes itself by providing a transparent and trustworthy experience, challenging traditional car buying and selling methods through its proprietary pricing algorithm. Carro's ecosystem encompasses essential services such as in-house financing solutions, after-sales support including Singapore's first on-demand roadside recovery platform, and a flexible car subscription service, positioning it as a holistic provider in the automotive industry.
How much funding has Carro raised?
Carro has raised a total of $547.3M across 5 funding rounds:
Angel/Seed
$5.3M
Series A
$12M
Series B
$60M
Debt
$110M
Series C
$360M
Angel/Seed (2016): $5.3M with participation from Golden Gate Ventures, Alpha JWC Ventures, Singtel Innov8, Venturra, GMO VenturePartners, and Skystar Capital
Series A (2017): $12M led by Skystar Capital, Venturra, GMO, Alpha JWC, Golden Gate Ventures, and Singtel Innov8
Series B (2018): $60M supported by Alpha JWC, B Capital Group, Manik Arora, Singtel Innov8, Insignia Ventures, Venturra, SoftBank Ventures Korea, and Golden Gate Ventures
Debt (2020): $110M, investors not publicly disclosed
Series C (2021): $360M backed by MSIG Insurance, EV Growth, and SoftBank Vision Fund 2
Key Investors in Carro
Golden Gate Ventures
Golden Gate Ventures is a leading venture capital firm specializing in early-stage investments across Southeast Asia, focusing on high-growth sectors like consumer internet, e-commerce, and fintech. They provide capital, strategic guidance, and extensive networks to support startups.
Alpha JWC Ventures
Alpha JWC Ventures is an early-to-growth stage venture capital firm based in Southeast Asia, dedicated to empowering ambitious founders and fostering positive change through strategic partnerships and support.
Singtel Innov8
Singtel Innov8 is the corporate venture capital arm of Singtel, investing in innovative technologies and solutions across telecommunications, data hosting, cloud, and cybersecurity to drive digital transformation.
What's next for Carro?
The substantial enterprise-level funding and strategic investment indicate Carro is poised for aggressive expansion and further innovation. This capital will likely fuel enhancements to its technology platform, expansion into new markets, and the development of additional services to solidify its market leadership. The company's focus on a seamless, technology-driven customer journey suggests continued investment in its proprietary algorithms and digital infrastructure to maintain its competitive edge and redefine automotive commerce.
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