Mumbai-based automobile information portal
CarWale.com has received a new $7 million installment of funding from Sierra Ventures, according to this
report. The deal follows an earlier funding of unspecified size from Seedfund, an Indian early-stage investment vehicle backed by Sierra.
Sierra partner
Vispi Daver, who leads the firm's India strategy, will take a seat on CarWale's board of directors, as will managing director
Tim Guleri. Seedfund's Pravin Gandhi already has a seat.
CarWale connects users with new and used car listings, provides automotive research and financing data, and offers related services such as maintenance alerts. Guleri and Daver have led Sierra's investment in at least one other India-based company, travel services startup MakeMyTrip.com.
-- Paul BonanosFor more, see
Economic Times
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