Droom operates an AI-powered online marketplace and suite of products and services for buying and selling used and new vehicles, including two-wheelers, with financing offered through partner banks and NBFCs. The company claims India’s largest selection of autos, listing over 250,000 vehicles across 1,174 cities. Its primary revenue streams are buyer commissions, vendor subscriptions, and advertising fees. Droom emphasizes trust, selection, and pricing solutions for consumers and is positioning the brand toward millennials and Generation Z through a strategic partnership with entertainer Badshah. The firm was founded by Sandeep Aggarwal in 2014 and is backed by marquee investors such as Lightbox, Digital Garage, Toyota Group, Recruit, Beenext, Beenos, 57 Stars, and multiple multibillion‑dollar family offices in Southeast Asia and Hong Kong. In FY23 the India subsidiary narrowed its net loss by 55% to INR 62.1 crore, while operating revenue declined 34% to INR 253.2 crore from INR 384.6 crore the prior year. Droom operates an online marketplace and broader ecosystem for used automobiles, including a consumer and dealer lending arm (Droom Credit). The company has pursued inorganic growth, acquiring AR startup Visiolab Ideas and NBFC Xeraphin Finvest to enhance customer experience and lending. Droom projects online penetration of automobile buying and selling to rise to 7% by 2025 (from 0.7% at present) and expects rapid post-pandemic migration online. Its current annual run-rate is $1.7 billion GMV and $54 million net revenue, and it says it is nearing profitability. The company expects to reach a GMV of $2 billion and net revenue over $65 million in 2021. Sandeep Aggarwal, who co-founded ShopClues, founded Droom in 2014. Droom is an India-based online marketplace for used vehicles that uses data science to generate vehicle-history alternatives and offers on-demand inspections. The platform automatically rates individual listings on a 1–10 scale based on information, documentation, and photos, and operates an inspection service called ECO. Droom reports roughly 3,500 transactions per month and about $160 million in annualized gross merchandise volume. The company plans to expand into Southeast Asia, targeting Singapore, Indonesia, Malaysia, the Philippines, Vietnam, and Thailand by the end of the year. Droom positions itself against classifieds and local used-car platforms such as OLX, CarTrade, and CarDekho, differentiating via its data-driven listing ratings and inspection services. The business was founded and is led by Sandeep Aggarwal, who previously founded ShopClues. Droom operates an online automobile classifieds marketplace with web and Android/iOS apps, listing vehicles from two-wheelers to luxury cars. The platform has processed over 3,000 successful transactions since becoming operational in January of the same year. It is led by founder and majority stakeholder Sandeep Aggarwal. With the new funding, Droom plans to add 20 automobile and 12 service categories and host over 50,000 sellers and 200,000 listings within 18–24 months. The company also plans to expand into Southeast Asia by early 2016. The fundraising is framed against a large Indian automobile market (reported at $125B) and growing used-car volumes cited by Frost & Sullivan.

Total raised

$241M

Funding rounds

4

Latest round

Equity

Latest activity

Jul 2021