New Delhi, March 13 -- SoftBank-backed online used-car marketplace Cars24 has acquired automotive utility platform Vehicle Info from Surat-based Vasundhara Infotech LLP as the company looks to expand its services beyond vehicle transactions.
The company said that the acquisition is aimed at helping Cars24 build a broader digital platform that supports vehicle owners throughout the lifecycle of ownership, beyond buying and selling vehicles.
Founded in 2017 by entrepreneur Chirag Pipaliya, Vehicle Info provides users with access to a range of vehicle related services through a single digital platform. The application allows vehicle owners to check registration details, view and pay traffic challans, verify insurance validity, track service history and access other vehicle information online.
The platform aims to simplify vehicle-related tasks that are often scattered across multiple government and private portals.
"The goal of Vehicle Info has always been to make vehicle-related information and services easily accessible for everyday users," said Chirag Pipaliya, co-founder at Vasundhara Infotech. "Joining hands with Cars24 gives the platform an opportunity to scale that vision further and integrate it into a larger ecosystem that supports users throughout the lifecycle of vehicle ownership."
Cars24 has been expanding its presence across the broader automotive ecosystem through a series of acquisitions in recent years. Earlier this year, the company acquired CarInfo, a vehicle information and management platform that helps users track key details such as insurance validity, pollution certificates, traffic challans, FASTag status and registration data.
The company has also been active on the community side of the automotive ecosystem. Last year, Cars24 acquired Team-BHP, an online community dedicated to automobiles, founded in 2004 by Mumbai-based enthusiast Rush Parekh.
Cars24 was last valued at about $3.3 billion in 2021 after raising $300 million in a Series G round from investors including SoftBank, DST Global, Alpha Wave Global and Tencent.
Published by HT Digital Content Services with permission from VC Circle.