CarSingh.com raises first round of funding from Seeders Venture Capital Pvt.Ltd

By Team YS|12th Sep 2011
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CarSingh.com
CarSingh, an online platform that helps users to buy and sell used and new cars has raised first round of funding from Seeders Venture Capital Pvt.Ltd. According to the startup, their portal attracts more than two lakh users per month. CarSingh was founded in January 2010. CarSingh.com is an automotive classified website for the Indian auto market. CarSingh.com lets you research new cars/used cars by price range, make and model.

Mr Rohit Singh, Founder & CEO of CarSingh says, “We are planning to invest funds raised in scaling our business. We will also invest in technology to build a better system that will help the company to provide effective service to our customers. Additionally these funds will help us to hire quality manpower.”

He adds, “We are very excited to have Seeders team on board. They are not only good investors but are also successful entrepreneurs who have built their own million- dollar companies from scratch. So their experience and thoughts will help us to build a successful business. We are focusing on after-sale market, which is still one of the most unorganized sectors.”

Seeders Venture Capital Pvt. Ltd primarily funds software, mobile, web services and gaming companies that either have a differentiating product or service where Internet is a key enabler.

Mr Pallav Nadhani, Partner at Seeders Venture Capital Pvt Ltd says, “While there are plenty of websites that cater to demands of new car buyers, not enough has been done for existing car owners. CarSingh intends to evolve into a single stop destination for everything related to used cars. We love the team as it is young, passionate and energetic and are very open to ideas."

Mr Abhishek Rungta, Co-founder of Seeders Venture Capital Pvt.Ltd says, “We are confident about the business model and the founding team of CarSingh. Their in-depth domain knowledge and understanding of business makes it an exciting venture”

Read more about the founder of CarSingh.com Rohit Singh in this interview with YourStory back in July 2010. 

For details visit: http://www.carsingh.com

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