Girnar Software to raise $15M from Sequoia Capital

Multi-vertical consumer internet company Girnar Software is in final stages of raising over $15 million from VC firm Sequoia Capital. The company owns and operates portals likes Bikedekho.com, Cardekho.com and Pricedekho.com, and will receive the investment from Sequoia for a 20 per cent stake, reported The Times of India.

The deal values the five-year-old company at over $50 million in its first round of funding, and promises to take the business beyond India. A formal announcement on the fundraise is expected soon, stated the TOI report. An SMS and an email sent to Mohit Bhatnagar of Sequoia Capital did not elicit a response.

The five-year old company was started by siblings Amit and Anurag Jain. While Cardekho.com is the firm's flagship portal, Bikedekho.com and Pricedekho.com are its newer ventures. Cardekho enables users to buy new and used cars and sell their cars online. Apart from the buying and selling, users can also get a lot of information regarding purchasing cars, insurance, finance and more. Bikedekho.com is a similar portal for bikes and Pricedekho is basically a price comparison site for gadgets. The founder duo hail from Jaipur, making Girnar one of the few startups that has headquarters outside any metro cities.

Cardekho.com competes with players like Gaadi.com, Times Internet's Zigwheels.com, eBay Motors, and Autoindia.com, among others. We will update the story as and when we get more information.

(Edited by Joby Puthuparampil Johnson)