Tencent was among the investors in a round which valued the automotive e-commerce platform developer at $1.75bn.

India-based online automotive marketplace Car24 has raised $259m from investors including internet and gaming group Tencent at a valuation of $1.75bn, Entrackr reported on Friday, citing regulatory filings.

Tencent, DST Asia and Wave Incubation each invested $75m, with Tencent taking part through a Europe-based special purpose vehicle called Zennis Capital.

Moore Strategic Partners put $22.7m into the round, Exor Seeds $8.3m, BloombergSen Investment Partners $470,000 and private investor Scott Kapnick $2.2m.

Founded in 2015, Cars24 operates an e-commerce platform enabling…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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