Hero FinCorp, an NBFC, will utilise LoanBox, CarDekho's proprietary loan management platform, to provide seamless loan processing experience to potential borrowers on the CarDekho platform and its dealer network, said Girnar Software in a statement.
The company, which has been on an acquisition spree over the past two years, is cutting the jobs in order to keep its commitment to the board to become a profitable firm by the first quarter of the next fiscal and reduce "dependence on external investor funds".
Consequently, Times Internet is now an investor in Girnar Software, alongside Sequoia Capital, Hillhouse, Tybourne, Ratan Tata and HDFC Bank, Girnar Software said in a statement.
FADA President was happy to note that development of auto sector in the State was one of the priority areas for action identified by the AP Government.
Tata, who retired as the head of over USD 100-billion conglomerate in December 2012, has emerged as a major venture capital investor since his retirement. He has made investment in more than a dozen startups since his retirement.
When asked about the revenues, he declined to share an exact figure but as per industry sources, the broadcaster is looking at a revenue of Rs 950 crore as against Rs 800 crore it earned in last season.
It is Tata's fourth such investment in an e-commerce firm. Last year, the business leader had invested in marketplace major Snapdeal, furniture e-tailer Urban Ladder and online jewellery seller BlueStone.
One of India's leading price comparison and shopping sites, PriceDekho.com launches the PriceDekho App to enable online shopping on smart phones and tablets.