What is Droom?
Founded in 2014 and headquartered in India, Droom operates as a tech and data-science-driven online automobile marketplace. The platform provides a comprehensive experience for buying and selling automobiles across India, leveraging technology to streamline the often complex process of vehicle transactions. Droom's focus on data science and technology positions it as a key player in digitizing India's automotive market, offering a wide range of services from discovery to financing and insurance.
How much funding has Droom raised?
Droom has raised a total of $280.1M across 4 funding rounds:
Series A
$15.6M
Series B
$44.5M
Series C
$20M
Stock Offering
$200M
Series A (2015): $15.6M with participation from Lightbox and Beenos
Series B (2016): $44.5M led by Beenext, Lightbox Ventures, Beenos, and Digital Garage
Series C (2017): $20M supported by Digital Garage and Integrated Asset Management
Stock Issuance/Offering (2021): $200M featuring 57 Stars and SevenTrain Ventures
Key Investors in Droom
Lightbox
Lightbox is a Mumbai-based venture capital firm specializing in differentiated businesses for India's consumption market. With a strong track record in venture capital, they focus on concentrated bets and have invested in various technology ventures.
Beenos
BEENOS is a global platformer that creates new markets through technology, connecting Japan with overseas markets. They operate in global commerce, entertainment, and incubation, facilitating cross-border e-commerce and supporting Japanese content abroad.
Digital Garage
Digital Garage, Inc. is a Japanese company focused on payment platform businesses, marketing, startup investment, and new business development using cutting-edge technology. They aim to design new contexts for a sustainable society through technology.
What's next for Droom?
With the recent infusion of major strategic capital, Droom is poised for accelerated expansion and further technological development. This significant investment is expected to fuel initiatives aimed at enhancing its platform capabilities, broadening its market reach within India, and potentially exploring new service verticals. The company's strategic focus will likely involve strengthening its data analytics infrastructure to provide more personalized user experiences and optimizing its operational efficiencies to solidify its leadership in the online automobile marketplace.
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