Autotech platform CarDekho on Tuesday announced its foray into the UAE market in partnership with Raya Holdings to improve car-buying experiences in the country. The company already operates in Southeast Asian countries like Indonesia and the Philippines under different brand names: OTO, Carmudi and Zigwheels.
In a statement, the company said it will tailor its AI-driven insights and lead management systems to meet the customer’s needs in the UAE. “From lead management systems to AI-driven consumer insights, we aim for our platform to align with the preferences of UAE customers,” said Anurag Jain, COO and co-founder.
“By integrating innovation with market understanding, we aim to redefine the car-buying experience, empowering both consumers and businesses with solutions that are as intuitive as they are impactful,” Anurag said.
Group CEO and co-founder Amit Jain said the move is also aligned with the commitment to contributing to the UAE’s “Vision 2030”, which focuses on sustainable transport and digital transformation. “We aspire to set new benchmarks and establish CarDekho as a prominent name in mobility and auto-financial space on a global scale,” Amit said.
The Jaipur-based company reported an 11% year-on-year (y-o-y) decline in its net revenue at Rs 2,074 crore in 2023-24, from Rs 2,331 crore. Its net loss narrowed to Rs 340 crore y-o-y from Rs 562 crore.
Founded in 2008, the company claims to have around 60 million monthly users.
CarDekho is backed by Peak XV Partners and competes with SoftBank-backed Cars24, Tiger Global-backed Spinny and listed firm CarTrade.
In December 2023, the company acquired a shared mobility platform Revv, which managed a fleet of over 1,000 cars and serving over 5 million customers at its peak.
