CarDekho’s insurance unit InsuranceDekho has raised its first external investment round of Rs 300 crore ($36.5 million) led by West Street Global, the investment arm of the Goldman Sachs Group.
According to the RoC filings with the Registrar of Companies, the Gurugram-headquartered company’s board has passed a special resolution to issue 1,49,16,506 equity shares at a price of Rs 201.12 each to raise Rs 300 crore.
West Sreet Global led the round with Rs 153.5 crore and holds a 14.71% stake in InsuranceDekho. While the TVS Capital Fund pumped in Rs 72.35 crore for a 6.95% stake.
Other investors, including Investcorp Private Equity, Avataar Ventures, Alstroemeria Investments, and individuals such as Vineet Dhingra, N Laxmi Narayan, Shridham Sons, and others, collectively participated, making an investment of Rs 74.15 crore.
In 2019, CarDekho launched its insurance platform to help customers buy motor and health insurance. It has since expanded into life,