One of the benefits of funding startups in a developing country is being able to invest in businesses that are already well established in your home territory. That’s what Sierra Ventures has done with $7 million in CarWale.com, an Indian car portal.
The site includes tools to research, buy or sell cars, as well as receive loans. CarWale also has community features and forums, although it stops somewhat short of a full social network.
The funding was the company’s first full venture round. CarWale previously took an investment from Seedfund, an Indian seed investment firm.
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