Watch: Droom founder Sandeep Aggarwal on harnessing AI to deliver B2B, B2C solutions

Droom, the new and used automobiles marketplace owned by Delhi-based Droom Technology, has rolled out an artificial intelligence (AI) powered solution, dubbed Tool Kit, to help consumers retrieve vehicle registration information and ascertain their commercial value with a single click of the number plate.  

Droom aims to sell the AI solution to vehicle insurance companies and banks in addition to buyers and sellers on its platform.

In a recent interview with TechCircle, Droom founder  Sandeep Aggarwal spoke about how the company is using AI, its upcoming pre-IPO round and the Lightbox-backed company’s overall operations.

The company claims an annualised GMV (gross merchandise value) of $1.2 billion and a growth rate of 100% year-on-year. It aims to clock $2 billion in GMV by the end of 2020 and list on Nasdaq next year.

Read: Droom founder Sandeep Aggarwal cleared on insider trading charges.

In November 2019, the company acquired an NBFC Xeraphin to make used car loans available to buyers on its platform.