Girnar Software, the parent company of several Indian auto portals, including CarDekho.com, Gaadi.com and Zigwheels.com, has received an investment of an undisclosed amount from Google Capital with participation from existing investor Hillhouse Capital.
The company, which has extended its services beyond India to places like Malaysia, Thailand, Vietnam, Philippines and Indonesia, will use the new funding to improve technology, research and development and expansion to other markets.
"Google Capital is one of most respected growth equity investors in the world, and brings to us the resources and expertise from the one of the most valuable technology companies on the planet," said Amit Jain, co-founder and CEO, Girnar Software, in a statement obtained by the Business Standard.
"Having them on our shareholder roster encourages us to keep raising the standard of our tech offerings as we create the premier automotive digital destination for the emerging markets," he added.
David Lawee, partner, Google Capital, also expressed his happiness over the new investment, saying that it should help Girnar Software cement its position.
"We're very excited to be investing in Girnar Software, the parent company of India's leading auto portal, CarDekho.com. The team is led by savvy entrepreneurs with a strong product orientation, who have positioned the company perfectly in a rapidly growing market," said Lawee. "We hope that through our investment and ongoing support, we'll help them cement their position in India, as the destination for all car related information and transactions, and grow into new markets regionally and globally."
Google Capital's investment in Girnar Software comes over a year after it received a $50 million funding from Hillhouse Capital with participation from Sequoia Capital and Tybourne Capital. The company founded by brothers Anurag and Amit Jain in 2008 has turned out to be one of the most promising start-ups in India and was valued at $300 million earlier last year.
Girnar Software provides a slew of services, including website designing, website development, e-commerce site building, mobile app development and internet marketing among others.