Droom launches Eco Lab to leverage frontier technologies for marketplace

Gurugram-based Droom Technology Private Limited, which runs a marketplace for new and used vehicles, has launched Eco Lab, an in-house initiative to leverage IoT (internet of things) to enhance the capabilities of Eco Inspection, the company’s proprietary tool for the inspection of pre-owned vehicles. 

“Being a customer-centric brand, we aim freeing our customers from the stress of having to deal with unknowns while buying a pre-owned automobile,” Rupendra Singh, vice president, certification services, Droom, said in a statement. “This is what led to the inception and launch of Eco Lab. From leveraging IoT cloud to access engine health, to enabling large fleet management services and bringing the best of professionals on board, Droom aims at making Eco Inspection the de-facto industry standard for used vehicle inspection,” he added

Droom currently has more than 5,000 auto inspection technicians, dubbed Eco Ninjas. The company claims to have inspected more than 90,000 vehicles across over 800 cities till date and aims to achieve a target of over 750,000 inspections by the end of this year.

Earlier this month, Droom founder and CEO Sandeep Aggarwal had said the company was in the process of closing a $250 million funding round. Last month, it set up an AI (artificial intelligence) lab to develop new tools and solutions and allocated Rs 50 crore ($7.1 million) to facilitate innovations in that area.

In April, the company launched operations in Thailand. The company had said the launch was a part of a larger expansion strategy for entering seven Southeast Asian markets.