Online auto mart Droom looking to raise m in 6 months

Aims to be profitable latest by Feb 2018 Mumbai, December 29:   Online automobiles marketplace Droom is looking at raising another $50 million over the next six months, in a bid to strengthen its technology play. The company plans to utilise the funds to expand its data science and analytics vertical. Droom is also planning to use artificial intelligence (AI) to make it easier for users to find and compare the price of vehicles, thus making conversions faster on its site. Acquisitions planned Part of the funds will also be used to acquire start-ups working in the AI space too, said Sandeep Agarwal, founder and CEO of Droom. The company, founded in 2014, has so far raised about $45 million from investors like Beenext (Singapore) and Japanese venture fund Digital Garage.…


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