Cardekho Adds Medulance on Its Platforms to Provide Emergency Medical Services to 60 Million Visitors

Aiming to support people with quick medical care, CarDekho has on-boarded ambulance service provider Medulance on its mobile app and website. Amit Jain, the new Shark on Shark Tank India show, decided to add Medulance, a GPS-based platform enabling fast ambulance services that pitched its business on the show, to CarDekho without any financial transaction. Amit Jain, Co-Founder and CEO of India’s largest auto tech company – CarDekho Group – did this with an aim to expand the reach of the emergency first care service and help bring down the number of road accident fatalities. This offer was made by Amit Jain in succession to his offer of Rs. 5 crore for 5% equity in Medulance, the biggest offer in the history of Shark Tank India., 

This free-of-charge integration of Medulance on the CarDekho app and website will enable users to call for an ambulance from the app and website in case of a mishap. This is in line with Amit Jain’s view of supporting cause-based businesses and will seek to prevent road accident fatalities in India.

Present in 500 cities, Medulance is India's first, GPS-based technology platform that enables fast and reliable first-point medical attention. Started in 2017, Medulance intends to make finding an ambulance as easy as finding food or taxis these days to assist lives. It is an integrated emergency response support provider, ambulance booking and tracking system designed to provide first-point medical attention.

Speaking on this partnership, Mr Amit Jain, CEO and Co-Founder, CarDekho Group, said, “India reports one of the highest numbers of fatalities caused by road accidents every year, cutting short great life stories. About half of these lives can be saved if the injured receive timely access to medical care, and Medulance is playing a pivotal role in bridging this gap. As a responsible group, CarDekho has integrated Medulance on its mobile app and website, and is playing its part in helping create awareness about a service that can help save lives.”

Pranav Bajaj, CEO, Medulance, said, “Medulance was started with an aim to help people call for early first care in case of an accident. Our efforts have save hundreds of lives so far and this social gesture by Shark Amit Jain will further amplify the reach of Medulance, allowing timely availability of ambulances and curbing loss of lives.”

Shark Tank India 2.0 is witnessing increased participation from entrepreneurs that are battling societal odds and are keen on solving problems through their businesses. Amit Jain has been at the forefront of promoting such ventures by looking beyond profit and investing in businesses that help India move forward.

Founded in 2008, CarDekho Group is credited for completely transforming the vehicle ownership ecosystem in India through its several companies. A $1.2 billion Unicorn, CarDekho Group operates companies in Insuretech (InsuranceDekho), Fintech (Rupyy), new vehicle, and used car segments.

CarDekho Group also operates India’s leading automobile content portals such as CarDekho.com, Gaadi.com, ZigWheels.com, BikeDekho.com, and PowerDrift.com. Leveraging innovation and technology, CarDekho Group has become one of the fastest-growing players in the industry, clocking INR 2400 crore ARR (Annual Revenue Run Rate) in Mar’22.

The group is GPTW (Great Place to Work) gold standard certified and has adopted 5 of the UN sustainable development goals as part of its ESG charter. CarDekho Group is backed by marquee investors like Sequoia, Hillhouse, CapitalG, RatanTata, Leapfrog (ESG-focused investment fund) amongst others.

CarDekho Lays Off Staff, Cuts Salary amid COVID-19 Crisis

CarDekho has laid off employees and slashed salaries as the automobile portal looks to tide over the disruptions caused by COVID-19 pandemic that has badly hit the Indian auto sector.

While the company did not comment on the number of employees being laid off, reports suggest the number is as high as 200.

When contacted, Girnarsoft Group - that runs CarDekho - said COVID-19 has led to disruptions across industries and auto is one of the worst hit sectors.

"We were constrained to look at rightsizing and salary cuts in a few businesses given period of slow recovery and in some cases permanent change in pattern of consumer spends," it said in an e-mailed statement.

The company said through the month of March till recently, teams across the board took measures to control costs, including the leadership team taking voluntary salary cuts effective April.

According to the reports, salaries have been slashed by 12-15 per cent depending on the pay packages, while senior management has taken a 45 per cent salary cut.

"To help this transition, we not only cover the impacted employees financially but have also set-up an intermediary support system to guide them towards opportunities inside and outside the organization. We are also encouraging and are providing well-rounded support for entrepreneurial opportunities with the organisation. These are testing times and we hope we come out of this much stronger than before," it said.

In the past few weeks, a number of tech-led businesses like Uber, Zomato and Swiggy have announced layoffs as the COVID-19 pandemic and lockdown dried up demand and ravaged businesses. Last week, Ola had said it is laying off 1,400 staff from rides, financial services and food business, while ShareChat handed pink slips to 101 employees.

According to a survey by industry body Nasscom, about 90 per cent startups said they are facing a decline in revenues, and about 30-40 per cent indicated temporarily halting their operations or in the process of closing down.

About 70 per cent startups surveyed said they have a cash runway of fewer than three months, the most affected being the early stage and mid-stage start-ups.

With businesses seeing significant impact due to the COVID-19 pandemic, startups are forced to freeze hiring, slash salaries and lay off people to steer through the crisis. PTI

CarDekho Raises $110 Mn from Sequoia, Hillhouse and CapitalG

Jaipur headquartered automobile classified portal CarDekho.com has raised $110 million in Series C round of funding from Sequoia India, Hillhouse, CapitalG , the investment arm of Google's parent Alphabet, and Axis Bank.

Cardekho intends to utilize the raised funds in the used-car business, insurance and finance verticals. With latest fundraise, the comany's total funding currently stands at $185 million.

The startup works directly with more than eight car and motorcycle manufacturers that make up for 15-30% of their combined annual sales. CarDekho works with 5,000 dealerships across India. In addition, it works in collaboration with over 10 financial institutions across the country to facilitate used car financing.

“Our used-cars engine has scaled up tremendously and has also enabled us to incubate allied businesses like insurance and finance as they are one of the largest opportunities ahead of us,” Jain said.

The opportunity lies in extending formal credit and insurance coverage to the new-to-formal economy population and will continue to be a focus area for the company, he added.

Launched in 2008 by Amit Jain and Anurag Jain Cardelho also has a presence in countries such as Malaysia, the Philippines and Indonesia under the brand names of ZigWheels and OTO (in Indonesia). The company is reportedly valued close to $500 million however exact value couldn’t be ascertained.

CarDekho raised funding from Tata Group Chairman Emeritus Ratan Tata in 2015. Along with its other group sites like ZigWheels, Gaadi, PowerDrift and BikdeDekho, CarDekho competes with companies including Droom, Cars24, CarTrade, OLX and Quikr.

In 2015, Carekho become a pioneer in introducing specialised portals like TyreDekho.com and TrucksDekho.com and CollegeDekho.com.

Cardekho has also made quite a few acquisitions including acquisition of Gaadi.com in 2014 and Zigwheels in 2015. In August last year, Cardekho's parent Girnarsoft acquired PowerDrift, an India’s largest YouTube channel for automotive content.

Girnar Software has also acquired Buying IQ (shopping engine), Drishya360s (virtual reality), Volob Technologies (AR-VR focused visual communications), Connecto (SaaS start-up), Help on Wheels, road side assistance startup.

According to market research firm Mordor Intelligence, the market for used car in India might hit $75-billion mark by 2023, with a CAGR of 15.2% during the forecast period of 2018-2023.

Source - Financial Express

CarDekho Acquires Youtube Channel PowerDrift

In yet another strategic move, Jaipur Headquartered Girnar Software Pvt Ltd, which owns and operates India’s largest auto portals CarDekho.com, Gaadi.com, ZigWheels.com and BikeDekho.com has announced the acquisition of PowerDrift Studios Private Limited, popularly known as PowerDrift. PowerDrift is India’s largest YouTube channel for automotive content and is on the verge of being the only automotive channel on YouTube to reach a million subscribers. This makes Girnarsoft group the largest automotive video content player reaching out to 1.4 million subscribers.

Founded in 2012 by Rohan Albal and Amit Shetty, PowerDrift is a new age rich media content creation company that specialises in creating unique lifestyle and engaging video content for consumers and enthusiasts of cars and motorcycles in India. Awarded with the 'Best Auto Content Creator - All India' award at the Social Media Summit 2018, PowerDrift's content has been an amalgamation of sound understanding of cars and motorcycles and the subtle art of filmmaking. Surpassing all the industry giants and conventional auto shows in near half the number of Videos and half the time, PowerDrift today clocks in 10million+ views monthly and has gone on to become a cult as India’s most favourite auto show.

In just a span of five years since its inception, PowerDrift has dominated the video content space in the country with more than 240 million lifetime views on its YouTube channel with an average of 2 lakh views per video. Importance of Video content is underlined by the Google – Kantar TNS study, which states that 80 % of car buyers watch online video during their car buying journey.

PowerDrift is Girnar Software’s 8th acquisition spanning across technology and content space. Aiming to digitize the entire auto ecosystem of the country, GirnarSoft has become largest automotive video content player with 1.4 million YouTube subscribers, largest consumer facing digital destination with 30 million monthly unique visitors coming on group sites and largest auto social media platform in the country.

Speaking on the Acquisition, Amit Jain, Co-founder and CEO, CarDekho said, “These are exciting times. CarDekho has always innovated and focussed on providing the best user experience. Content plays an extremely important role in that. By bringing PowerDrift on board, I am convinced that this acquisition will prove to be a game-changer. We will come up with the best in class video content, which will be a visual treat and decision enabler for all stakeholders. I welcome each one from PowerDrift on-board and look forward to a power-packed innings!”

Rohal Albal, Co-Founder and CEO, PowerDrift said, “Showcasing Indian motoring in a unique and world class way has been the founding principle of PowerDrift. This alliance enables us in creating more exciting content, but also offers great value to our viewers. With our strengths compounded, I can’t wait for an even bigger, more exciting automotive future for India”.

Girnar Software is one of India’s leading consumer internet companies. The group runs India’s largest auto sites - CarDekho.com, Zigwheels.com, BikeDekho.com and Gaadi.com. The company is also a pioneer in introducing specialised portals like TyreDekho.com and TrucksDekho.com and CollegeDekho.com. GirnarSoft went international in 2015 with an auto site CarBay.com in multiple countries in Asia and Middle East. It also launched OTO.com in Indonesia which has become the number one auto site. Girnar Software has acquired Gaadi.com, Zigwheels.com, Buying IQ (shopping engine), Drishya360s (virtual reality), Volob Technologies (AR-VR focused visual communications), Connecto (SaaS start-up), Help on Wheels, road side assistance startup.

Girnar Software has raised funding from Marquee investors which include Google Capital, Tybourne Capital, Hillhouse Capital, Sequoia Capital, HDFC Bank, Ratan Tata and Times Internet. The company is currently valued at USD 380 million.The group’s vision is to be a multi-billion dollar company by 2021 with global footprint.

CarDekho Acquires Youtube Channel PowerDrift

In yet another strategic move, Jaipur Headquartered Girnar Software Pvt Ltd, which owns and operates India’s largest auto portals CarDekho.com, Gaadi.com, ZigWheels.com and BikeDekho.com has announced the acquisition of PowerDrift Studios Private Limited, popularly known as PowerDrift. PowerDrift is India’s largest YouTube channel for automotive content and is on the verge of being the only automotive channel on YouTube to reach a million subscribers. This makes Girnarsoft group the largest automotive video content player reaching out to 1.4 million subscribers.

Founded in 2012 by Rohan Albal and Amit Shetty, PowerDrift is a new age rich media content creation company that specialises in creating unique lifestyle and engaging video content for consumers and enthusiasts of cars and motorcycles in India. Awarded with the 'Best Auto Content Creator - All India' award at the Social Media Summit 2018, PowerDrift's content has been an amalgamation of sound understanding of cars and motorcycles and the subtle art of filmmaking. Surpassing all the industry giants and conventional auto shows in near half the number of Videos and half the time, PowerDrift today clocks in 10million+ views monthly and has gone on to become a cult as India’s most favourite auto show.

In just a span of five years since its inception, PowerDrift has dominated the video content space in the country with more than 240 million lifetime views on its YouTube channel with an average of 2 lakh views per video. Importance of Video content is underlined by the Google – Kantar TNS study, which states that 80 % of car buyers watch online video during their car buying journey.

PowerDrift is Girnar Software’s 8th acquisition spanning across technology and content space. Aiming to digitize the entire auto ecosystem of the country, GirnarSoft has become largest automotive video content player with 1.4 million YouTube subscribers, largest consumer facing digital destination with 30 million monthly unique visitors coming on group sites and largest auto social media platform in the country.

Speaking on the Acquisition, Amit Jain, Co-founder and CEO, CarDekho said, “These are exciting times. CarDekho has always innovated and focussed on providing the best user experience. Content plays an extremely important role in that. By bringing PowerDrift on board, I am convinced that this acquisition will prove to be a game-changer. We will come up with the best in class video content, which will be a visual treat and decision enabler for all stakeholders. I welcome each one from PowerDrift on-board and look forward to a power-packed innings!”

Rohal Albal, Co-Founder and CEO, PowerDrift said, “Showcasing Indian motoring in a unique and world class way has been the founding principle of PowerDrift. This alliance enables us in creating more exciting content, but also offers great value to our viewers. With our strengths compounded, I can’t wait for an even bigger, more exciting automotive future for India”.

Girnar Software is one of India’s leading consumer internet companies. The group runs India’s largest auto sites - CarDekho.com, Zigwheels.com, BikeDekho.com and Gaadi.com. The company is also a pioneer in introducing specialised portals like TyreDekho.com and TrucksDekho.com and CollegeDekho.com. GirnarSoft went international in 2015 with an auto site CarBay.com in multiple countries in Asia and Middle East. It also launched OTO.com in Indonesia which has become the number one auto site. Girnar Software has acquired Gaadi.com, Zigwheels.com, Buying IQ (shopping engine), Drishya360s (virtual reality), Volob Technologies (AR-VR focused visual communications), Connecto (SaaS start-up), Help on Wheels, road side assistance startup.

Girnar Software has raised funding from Marquee investors which include Google Capital, Tybourne Capital, Hillhouse Capital, Sequoia Capital, HDFC Bank, Ratan Tata and Times Internet. The company is currently valued at USD 380 million.The group’s vision is to be a multi-billion dollar company by 2021 with global footprint.

GirnarSoft Launches BusesDekho, Indian Passenger Commercial Vehicle Portal

After a successful one-year run, India’s fastest growing trucking platform, TrucksDekho.com, GirnarSoft launched BusesDekho.com in the passenger commercial vehicle segment. GirnarSoft also owns popular auto portals such as CarDekho.com, Gaadi.com and Zigwheels.com. BusesDekho.com is aimed at filling the digitization void in the passenger commercial vehicle segment. It also bridges the gap between manufacturers and bus owners in the domestic space.

On BusesDekho.com, users can search for buses, vans and auto rickshaws from leading brands, check specifications, view pictures and videos, download brochures and get prices of models. Additionally, the users can compare specifications of upto three vehicles and find the nearest dealers, service centers, spare parts and body makers. In short, BusesDekho offers a one-stop solution for researching, analysing and comparing buses, vans and other passenger commercial vehicles.

With 189 models comprising of 156 buses, 18 vans and 15 auto rickshaws, BusesDekho provides the perfect platform for buyers and fleet owners to gather information about their choice of products. The portal also contains verified addresses of over 2000 dealers, 2500 service centers, 2500 spare part centers and 312 body makers across India.

Commenting on the new platform, Mr. Robinder Gauba, Business Head, TrucksDekho and BusesDekho, said, “While digitization has been slowly seeping into the commercial vehicle space, there is still a huge void with respect to auto sites catering to this growing demand. With this launch, we are looking to build a holistic online ecosystem where fleet owners can research, compare and discover the best vehicle options to meet their requirements.”

Currently, the market for bus sales has witnessed an annual growth of 10.8%. “It is a great time to launch such a project, considering the Government of India’s proposal to open up the passenger transport sector to more private players,” he adds.

GirnarSoft forayed into the commercial vehicle segment last year with TrucksDekho.com. The platform is currently the fastest growing online trucking portal with an average of 10-12 lakh monthly page views from 2-3 lakh unique visitors. TrucksDekho.com provides comprehensive information about trucks, including specs, features, prices, comparisons, reviews and industry insights. It has collaborated with several major dealerships in India including Cargo Motors, FortPoint, Kasliwal Trucking and GRD Trucks.