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§ Private Profile · Gurgaon, Haryana, India
Tech-enabled online marketplace for buying and selling used cars, using AI pricing for owners and buyers in India.
CARS24 is a tech-enabled online marketplace for buying and selling used cars that is headquartered in Gurugram, Haryana, India. The digital platform utilizes a proprietary AI-powered pricing algorithm to determine accurate market values and appraisal prices, while simultaneously facilitating secure vehicle inspections and comprehensive end-to-end transaction processing. Operating across a vast physical network of more than 130 cities throughout the Indian market, the company functions by purchasing pre-owned vehicles directly from individual sellers and subsequently reselling them to retail consumers. The enterprise has successfully scaled its automotive marketplace operations to achieve a unicorn valuation of $3.2 billion, supported by significant capital commitments from prominent institutional investors including Exor Seeds, Moore Strategic Ventures, and Unbound. CARS24 was officially founded in 2015 by the entrepreneurial team of Vikram Chopra, Mehul Agrawal, Ruchit Agarwal, and Gajendra Jangid.
CARS24 has raised $1.9B across 12 funding rounds.
Key people at CARS24.
CARS24 was founded in 2015 by Mehul Agrawal (Co-Founder) and Ruchit Agarwal (Co-Founder and Chief Financial Officer) and Vikram Chopra (Co-Founder) and Gajendra Jangid and Ruchit Agarwal (Co-Founder) and Gajendra Jangid (Co-Founder and CMO).
CARS24 has raised $1.9B in total across 12 funding rounds.
CARS24 has raised $1.9B across 12 funding rounds. Most recently, it raised $39.5M Other Equity in August 2025.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Aug 23, 2025 | CARS24 | $39.5M Other Equity | CARS24 | — |
Key people at CARS24.
CARS24 is a leading AutoTech company that builds a comprehensive online platform for buying, selling, financing, and servicing pre-owned cars. It serves consumers primarily in India, Australia, Thailand, UAE, and Indonesia, offering a seamless, transparent, and technology-driven experience that addresses the traditionally fragmented and opaque used car market. By leveraging AI-powered pricing engines, vehicle inspections, instant payments, and end-to-end documentation handling, CARS24 solves the problem of inefficiency, mistrust, and inconvenience in used car transactions. The company has demonstrated strong growth momentum, with over 1 million cars transacted globally, a user base exceeding 300 million, and revenues surpassing $1 billion, reflecting rapid scale and market leadership[1][3][6].
Founded in 2015 by Vikram Chopra, Mehul Agrawal, Gajendra Jangid, and Ruchit Agarwal, CARS24 emerged from Chopra’s personal frustration with the cumbersome process of selling his own car. The founders envisioned a full-stack platform that would go beyond simple listings to offer instant payments, vehicle inspections, financing, insurance, and complete transaction management. Early traction came from transforming the used car market in India by introducing transparency and trust, which helped the company scale quickly to over 200 Indian cities and expand internationally to markets like UAE, Australia, and Thailand by 2021[3][4][5].
CARS24 rides the global trend of digitizing traditionally offline, fragmented markets through technology and data science. The timing is favorable due to increasing internet penetration, smartphone adoption, and consumer preference for hassle-free online transactions in emerging markets. By organizing the used car market with a data-enabled platform, CARS24 influences the broader ecosystem by setting new standards for transparency, convenience, and trust in automotive commerce. Its expansion into multiple countries also demonstrates the scalability of tech-driven marketplace models in the mobility sector[2][4].
Looking ahead, CARS24 is poised to deepen its technological innovation, particularly in virtual appraisals, AI pricing, and fully online transaction completion. Expansion into new geographies and vehicle categories (such as two-wheelers) will likely continue. Trends like electric vehicles, sustainability, and digital financing will shape its journey, potentially positioning CARS24 as a dominant global player in used vehicle commerce and mobility solutions. Its influence may evolve from a marketplace to a comprehensive mobility ecosystem, further transforming how consumers buy, sell, and own vehicles[3][4][7].
CARS24 was founded in 2015 by Mehul Agrawal (Co-Founder) and Ruchit Agarwal (Co-Founder and Chief Financial Officer) and Vikram Chopra (Co-Founder) and Gajendra Jangid and Ruchit Agarwal (Co-Founder) and Gajendra Jangid (Co-Founder and CMO).
CARS24 has raised $1.9B in total across 12 funding rounds.
CARS24's investors include CARS24, Global Car Group Limited, Navroz D. Udwadia, Alibaba, DST Global, Exor Ventures, Raptor Group, SoftBank, Tencent, Alt Capital, Amplo, B Capital Group.
