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Dhoni invests in online used car marketplace Cars24

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Gurugram: Former Indian captain MS Dhoni has invested in Gurugram-based online used car marketplace Cars24 for an undisclosed sum, the company announced on Tuesday. The investment is part of the series D round of funding.

Founded in 2015 by Vikram Chopra and Mehul Agrawal, the company is backed by Sequoia India, Exor Seeds, partners of DST Global, London-based Kingsway Capital and Silicon Valley investment firm KCK.

“I am thrilled to be part of the CARS24 journey. Besides being a fan of all things to do with cars, I am also a fan of new age companies that are disruptive, innovative and shaping the future. CARS24 is definitely one of these companies,” Dhoni said in a statement.

As consumption slowdown and liquidity crunch hit the auto industry including the second-hand car market, Cars24 reportedly shut down a dozen stores in the national capital recently, saying it is in the process of “addressing anomalies”. IANS

 

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