SUMMARY
- Sudarshan Sharma, ex-Flipkart and Google, joins CarDekho as CBO for New Auto.
- CarDekho partners with BiUP Technologies to boost AI mobility solutions.
- The firm expands into agriculture with TractorsDekho and personal loans via Rupyy.
Sudarshan Sharma, a seasoned professional in both automotive and technology, has joined CarDekho Group as chief business officer (CBO) for its New Auto division. He was a senior director at Flipkart before joining this group, where he was in charge of agency connections and third-party monetization. He was also the chief of industry for the automobile division at Google. As per the statement from CarDekho Group, Sharma’s new position would enable the business to expand its marketing efforts, boost sales, and develop strategic partnerships within the sector.
The chief executive of New Auto, Mayank Jain, stated that Sharma is “the perfect fit to spearhead strategic business development and drive innovative growth initiatives” because of his illustrious two-decade career in the automotive and technology sectors. Days earlier, as part of their strategic alliance, CarDekho Group and SaaS platform BiUP Technologies teamed together to push AI-powered mobility solutions through Girnar Vision Fund (GVF), their investment arm.
The Amit Jain and Anurag Jain-led firm which was founded in the year 2008 runs several platforms in the auto-tech and financial industries including Rupyy, InsuranceDekho, and CarDekho.com. A few of its sponsors include Peak XV Hillhouse Capital, CapitalG, Ratan Tata Trust, Leapfrog, HDFC Bank, ICICI Bank, and Axis Bank.
The firm TractorsDekho, a platform created to make tractor research easier for India’s farming community, marked CarDekho’s entry into the agricultural industry in May. Connecting buyers, sellers, dealers, and service centers is the platform’s main goal. Before that, Rupyy, CarDekho’s fintech division, joined the personal lending market in March. Rupyy intends to expand to INR 2 Lakh and beyond in the future, initially concentrating on small-ticket loans up to INR 40,000. With this action, it hopes to reach 40–50 million users.
Even though the firm’s net loss increased slightly to INR 562 Cr from INR 535 Cr in FY22, its consolidated sales increased by 1.5X to INR 2,331 Cr in FY23.
Source: Inc42
