CarTrade Tech, an automotive platform, announced on Thursday the launch of CarTrade Ventures, a business initiative that will invest Rs 750 crore over the next 5-7 years to fund acquisition and investment in the automotive space.
In a statement, the company stated that it will seek to acquire and invest in companies that provide differentiated services and technology in the automotive space.
It was also stated that the capital invested would come from profits generated and funds available in the company.
We established CarTrade Ventures to invest in cutting-edge technologies, digitalize vehicle buying, selling, and ownership, and be a key enabler in the growth of the auto ecosystem.
“To that end, we intend to invest up to Rs 750 crore in companies that are driving innovation in the global auto ecosystem,” said Vinay Sanghi, founder and Chairman of CarTrade Tech Group.
He went on to say that the company has grown both organically and inorganically.
Furthermore, CarTrade Ventures will add value to the companies through synergies with group companies as well as access to customers and technology, allowing these companies to scale.
