When was CarIQ founded?

CarIQ was founded in 2013 and raised its 1st funding round within a year of its incorporation.

Where is CarIQ located?

CarIQ is headquartered in Pune, India. It is registered at L - 4, MIDC, WALUJ, Aurangabad, AURANGABAD, Maharashtra, India, 431136.

Who is the current CEO of CarIQ?

Sagar Apte of CarIQ. They have also founded 1 company and are angel investors in 2 startups.

How many employees does CarIQ have?

As of Mar 31, 2026, the latest employee count at CarIQ is 51.

Is CarIQ a funded company?

CarIQ is a funded company, having raised a total of $16.6M across 5 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Nov 21, 2013.

How much is CarIQ worth?

The last known valuation of CarIQ was $***** as of Aug 10, 2016.

When was the latest funding round of CarIQ?

CarIQ's latest funding was a $***** Series B round on Aug 11, 2021, with participation from 14 investors.

What is the annual revenue of CarIQ?

Annual revenue of CarIQ is ₹5.16Cr as on Mar 31, 2025.

Where does CarIQ rank among its competitors?

CarIQ ranks 4th amongst 33 active competitors, of which 7 are funded. It stands 2nd in terms of total funding among its competitors. The most recent competitor to raise funding was Six Sense Mobility, which secured $4.8M in Feb, 2026.

Who are the top competitors of CarIQ?

CarIQ's top competitors include ACKO, Webfleet and Six Sense Mobility. Among them, Six Sense Mobility secured the most recent funding round in February, 2026.

CarIQ - 2026 Company Profile, Team, Funding, Competitors & Financials

CarIQ is an acquired company based in Pune (India), founded in 2013 by Sagar Apte, Hrishikesh Nene, Vinu Kanakasabhapathy, Deepak Thomas and Rajendra Rajguru. It operates as a Saas-based platform for vehicle diagnostics solutions. CarIQ has raised $16.6M in funding from investors like Snow Leopard Trust, Chrysalis Business eXchange and Forte Ventures, with last known valuation of $*****. The company has 33 active competitors, including 7 funded and 1 that has exited. Its top competitors include companies like ACKO, Webfleet and Six Sense Mobility.

Company Details

Saas-based platform for vehicle diagnostics solutions. It offers an OBD device-enabled real-time vehicle diagnostics solutions. It provides multiple features including car health overview, real-time location sharing, predictive maintenance, usage-based insurance renewals, and more.

Website: mycariq.com
Social
Email ID: *****@mycariq.com
Registered Address: L - 4, MIDC, WALUJ, Aurangabad, AURANGABAD, Maharashtra, India, 431136

Key Metrics

Founded Year

2013

Location

Pune, India

Stage

Acquired

Total Funding

$16.6M in 5 rounds

Latest Funding Round

Series B, Aug 11, 2021, $*****

Last Known Valuation

$***** as on Aug 10, 2016

Investors

Snow Leopard Trust & 45 more

Ranked

4^th among 33 active competitors

Annual Revenue

₹5.16Cr as on Mar 31, 2025

Employee Count

51 as on Mar 31, 2026

Similar Companies

Marshmallow & 619 more

Exit Details

Acquired by Varroc (Aug 09, 2019)

View CarIQ's full profile

CarIQ is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Varroc Engineering Limited CIN: L28920MH1988PLC047335 , India, Active	May 11, 1988	$967M (As on Mar 31, 2025)	2923 (As on Nov 30, 2024)
VARROC CONNECT PRIVATE LIMITED CIN: U74900MH2013PTC351817 , India, Active	Jan 11, 2013	$611K (As on Mar 31, 2025)	42 (As on Aug 01, 2025)

CarIQ got acquired by Varroc on Aug 09, 2019.

Click here to take a look at CarIQ's acquisition in detail

CarIQ has raised a total funding of $16.6M over 5 rounds. Its first funding round was on Nov 21, 2013. Its latest funding round was a Series B round on Aug 11, 2021 for $*****. 14 investors participated in its latest round. CarIQ has 23 institutional investors and 23 angel investors.

Here is the list of recent funding rounds of CarIQ:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Aug 11, 2021	2168932	Series B	3246035	2565941	7243152	6684496
Aug 10, 2016	5116067	Seed	5606971	9074897	6244103	Rajendra Rajguru & 5 more
Sep 03, 2014	7306667	Seed	5571022	4317200	Snow Leopard Trust & 1 more	Pose Ventures & 9 more

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View details of CarIQ's funding rounds and investors

The founders of CarIQ are Sagar Apte, Hrishikesh Nene, Vinu Kanakasabhapathy, Deepak Thomas and Rajendra Rajguru.

Here are the details of CarIQ's key team members:

Sagar Apte: Former Co-Founder & CEO of CarIQ and founder of 2 other companies, FleetIQ and veriCAR. They are also an angel investor in 2 startups and serve on the board of 1 company.
Contact Info: 1 email address
Hrishikesh Nene: Former Co-Founder & CTO of CarIQ and founder of 1 other company. They are also an angel investor in 1 startup and serve on the board of 1 company.
Contact Info: 1 email address and 1 phone number
Vinu Kanakasabhapathy: Former Co-Founder & COO of CarIQ. They are also an angel investor in 1 startup and serve on the board of 1 company.
Contact Info: 1 email address
Deepak Thomas: Former Co-Founder of CarIQ. They are also an angel investor in 1 startup and serve on the board of 1 company.
Contact Info: 1 email address
Rajendra Rajguru: Former Co-Founder of CarIQ. They are also an angel investor in 1 startup.
Contact Info: 1 email address

CarIQ's Board of Directors

CarIQ's board has 4 active members. Sagar Apte and Hrishikesh Nene are part of team and Vinish Kathuria and Arjun Jain are independent board members.

Here is the list of CarIQ's board of directors:

Name	Type	Representing	Status	Duration
Sagar Apte	Team	-	Current	12y 5m
Hrishikesh Nene	Team	-	Current	7y 8m
nxfumnv	Investor	crflvjd	Past	6y 8m
ywvalu{	Independent board member	-	Past	1y 5m
kfcgpz{	Independent board member	-	Past	2y 9m
lzesuzf	Independent board member	-	Past	4y 2m
xyivzme	Independent board member	-	Past	3y 8m

View details of CarIQ's Founder profiles and Board Members

CarIQ's employee count trend

CarIQ has 51 employees as of Mar 26. Here is CarIQ's employee count trend over the years:

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Top competitors of CarIQ include ACKO, Webfleet and Six Sense Mobility. Here is the list of Top 10 competitors of CarIQ, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	ACKO 2016, Bengaluru (India), Series E	Provider of car, bike, health, life, and travel insurance policies	$598M	Multiples Alternate Asset Management, Ventureast ... & 48 others	85/100
2nd	Webfleet 1991, Amsterdam (Netherlands), Unfunded	Provider of cloud-based fleet management software	-	-	62/100
3rd	Six Sense Mobility 2020, Delhi (India), Seed	End-to-End fleet management solutions for fleet operators	$5.67M	Piper Serica, Docbel & 8 others	55/100
4th	CarIQ 2013, Pune (India), Acquired	Saas-based platform for vehicle diagnostics solutions	$16.6M	TELUS Ventures, Visa & 44 others	49/100
5th	WIMWIsure 2017, Ahmedabad (India), Seed	AI-based P&C insurance claims processing platform for insurers	$375K	Yantech Ventures, Betaplus Capital Partner ... & 6 others	44/100
6th	Eye Dentify 2016, Hyderabad (India), Seed	End-to-End fleet management solutions for transport operators	$99.7K	Artesian, Bosch DNA accelerator & 3 others	44/100
7th	nesh.live 2012, Chennai (India), Seed	Offers cloud-based fleet intelligence platform for businesses	$115K	-	40/100
8th	eontel.com 1999, Sahibzada Ajit Singh Nagar (India), Unfunded	Transportation management system	-	-	37/100
9th	Safehur 2015, Bengaluru (India), Seed	Provider of a driving risk assessment and quantification platform	$363K	Navyug, Logic Fruit Technologies & 15 others	34/100
10th	Yatis 2015, Bengaluru (India), Unfunded	App-based platform for car tracking, maintenance, and safety	-	-	34/100

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Looking for more details on CarIQ's competitors? Click here to see the top ones

Founders (largest shareholder) own 29.88%, Funds own 7.76%, Enterprises own 28.32% and Angels own 11.30%. The net worth of CarIQ's founders is INR 4.11Cr as of Aug 10, 2016.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	29.88%	4.11Cr	6322441	2824981	2793444	6369188
Sagar Apte	6529619	4785575	7810379	2885836	5714454	4837324
Deepak Thomas	610	511	465	736	367	765
Hrishikesh Nene	0	0	0	0	0	0
Vinu Kanakasabhapathy	0	0	0	0	0	0
Fund	7.76%	1.07Cr	7950327	8387336	5228158	7732310
Pose Ventures	9953095	7301686	4958254	1122651	2577607	9693503
Enterprise	28.32%	3.89Cr	8706607	2799910	6505630	5991673
Angel	11.30%	1.55Cr	3341592	8159750	6763478	2671186
Other People	4.75%	65.3L	5222	3614	9654	3311
ESOP Pool	17.97%	2.47Cr	8506207	5243324	1775231	1370890
Total	99.98%	13.7Cr	4814444	9632426	7689160	5130923