Spinny

Three Unicorn startups — CARS24 Services Pvt., CarDekho and Spinny — that buy and sell pre-owned vehicles are in early talks with bankers to assess investor appetite

Spinny raises $40 million from WestBridge in extended funding round

WestBridge has joined Accel, Elevation, Tiger Global in Spinny’s extended round at flat $1.7 billion valuation. This marks the largest fundraise in India’s used-car startup space since 2021

Used car marketplace Cars24 acquires auto forum Team-BHP

Post-acquisition, the forum will continue to operate independently by its founding team, with the same zero-sponsored content policy, strict moderation, and community-first approach that has earned it unmatched credibility and respect, Cars24 said.

Used car marketplace Spinny raises $131 million in fresh funding led by Accel Leaders Fund

Existing investors such as Elevation Capital, Tiger Global, and Fundamentum Partnership also participated in the round.

Used car marketplace Spinny acquires Autocar-operator Haymarket’s automotive titles in India

As part of the cash-and-equity deal, the size and details of which were not disclosed, Hormazd Sorabjee will continue to oversee Haymarket’s flagship automotive titles, Autocar India, Autocar Professional, and What Car? India.

Used car marketplace Cars24 forays into new car market with new aggregator platform

‘New Cars’ has been rolled out as an online-only offering on the company’s website, where the platform will act as an aggregator for various auto OEMs to list their cars. This includes detailed video walkthroughs, on-road pricing details, test drive services, and financing options.

GST impact: India’s used car market braces for slowdown after decision to increase tax rate from 12% to 18%

The used car industry in India remains largely consumer-to-consumer and is unorganised to a great extent

PitchCraft Episode 2 | Spinny: Put the customer at the center of the deck

Join us in this episode of PitchCraft as we dissect Spinny's pitch deck, unraveling the art and strategy behind crafting a compelling presentation. Learn the essential elements and secrets to master the skill of creating an impactful pitch deck that captivates investors and stakeholders..

Tiger Global-backed Spinny fires 300 employees in business rejig

Spinny has about 6,000-6,200 employees and the sackings have hit around 5 percent of the workforce, as Truebil and Spinny Max prepare to merge and operate under the main brand

Cars24, Spinny, Olx Auto, Mahindra First Choice write to MoRTH for changes in new registration portal

Concerns were raised on mandatory GST registration, and rules for multiple deemed ownership transfers, to name a few.

GoMechanic taps Cars24, Spinny for a distress sale

GoMechanic's latest funding round was called off last week following alleged misreporting of financials during due diligence, which the founders later admitted to.

Spinny opens 1,000 acre park in Bengaluru as it sees used cars demand continuing to remain strong

Founder said that they are witnessing strong demand in Bengaluru as the city contributes nearly 8 percent to overall sales. He also said that Bengaluru is the largest hub for Spinny

Used car market poised for massive growth post Covid

Used-car sales are likely to almost double to 8 million units by 2027 as people move away from public transport and shared rides for better protection against the virus and online platforms bring transparency and trust to the largely unorganised market

Moneycontrol Selects: Top stories this afternoon

Take a look at our specially curated package of the most interesting articles to help you stay at the top of your game.

Tiger Global-backed Spinny launches ESOP plan for all employees

All of Spinny’s employees irrespective of role and designation, including blue-collar workers, would be eligible to receive stocks through the Spinny Stock Option Plan for All

Tiger Global coming at early-stage investing is good for us: Fundamentum's Sanjeev Aggarwal and Ashish Kumar

Nandan Nilekani's Fundamentum Partnership stayed away from any new investment in 2021 as the firm couldn't find companies where it thought it would be able to generate returns.

Slowing in startup funding is healthy, signals return to basics: Sanjeev Aggarwal of Fundamentum

The funding slowdown is healthy because nothing was changing in the business but valuations were going up because of the fear of missing out for venture capital firms

Nandan Nilekani’s Fundamentum Partnership raises $227 million in second fund

Fundamentum joins a growing list of early-stage venture capital investors in India to have raised large funds for Indian-focused startups. Earlier this year, VC firms Accel and Elevation Capital had also closed their largest-ever India-focused funds.

General Catalyst to double down on investments in India, crypto and Web 3.0 in focus

The US-based investment firm is bullish on India and sees an opportunity to invest in Web 3.0 startups as well as fintech, healthcare, enterprise and consumer firms

Sachin Tendulkar joins Spinny as strategic investor, lead brand endorser

Spinny, however, did not disclose the amount of investment by Sachin Tendulkar in the company.

Spinny becomes 42nd unicorn of 2021, raises $283m from ADQ, Tiger Global & others

The round saw investments from Abu Dhabi’s ADQ, existing backers Tiger Global Management and Avenir Growth, and Feroz Dewan’s Arena Holdings and Think Investments, valuing Spinny at $1.8 billion

Spinny raises $108 million in funding led by Tiger Global, Avenir Growth

The latest round of capital infusion in Spinny comes close on the heels of USD 65 million funds injected in the company in the Series C round in April this year.

Online used car retailing platform Spinny raises $65 million in funding round

The funding was led by U.S. venture capital firm Lightspeed Venture Partners and American investment firm Tiger, ShareChat said in a statement on Thursday.