Online platform to sell second-hand cars CARS24 has raised a $200 million Series E funding round led by DST Global with participation from existing investors including Exor Seeds, Moore Strategic Ventures, and Unbound. The company is the latest addition to the growing list of unicorns in India with its valuation crossing the hallowed $1-billion mark in the current round.

— The Financial Express

AP & Partners acted for longer-standing client Global Car Group, operating as Cars24, with partner Arjun Sinha and associate Tanisha Khaitan.

IndusLaw advised Sequoia and Unbound Partners Mauritius Holdings led by a team of partner Siddharth Manchanda, associate Rohit Jain.

This follows Car24’s Series D round in October 2019 for $100m, which had also seen AP act for the company.

Back then, Unbound had instructed Algo Legal, though with Manchanda’s move to Indus, the latter now captured both mandates for Unbound and Seqouia (which had also briefed Themis Associates back then).

2020-12-01

Deal value: $200m

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