CarDekho bags investment from Ratan Tata

In his fourth investment in an e-commerce firm, Tata Group chairman emeritus Ratan Tata has invested in CarDekho.com, an auto classifieds portal. In 2014, the 77-year-old business leader had invested in online shopping portal Snapdeal, furniture e-tailer Urban Ladder and online jewellery seller BlueStone.

"Tata, a deeply revered man in the Indian auto sector, has for the first time ever joined hands with an auto portal by investing in personal capacity. While the investment amount remains undisclosed, Tata has agreed to advise the company as and when required,” as per a statement issued by CarDekho.

"Such an investment by the man who has significantly shaped the Indian auto sector is a testimony to CarDekho's plans in its quest to rapidly grow in the auto classifieds sector," it added.

GirnarSoft, the company that owns CarDekho, also operates other websites like BikeDekho.com and PriceDekho.com. And it is now valued at $300 million.

"Post our recent funding and investment by Tata, we are another step closer to the group's vision of becoming a global company through our innovative products and services,” said Amit Jain, co-founder and CEO, GirnarSoft.

"With the faith and confidence shown by Tata in the company, it increases our responsibility towards contributing for the overall development of the online automobile sector," he concluded.