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 Oct 31, 2026, the latest employee count at CarIQ is 50.

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 less than ₹10 Cr as on Mar 31, 2026

Where does CarIQ rank among its competitors?

CarIQ ranks 24th amongst 414 active competitors, of which 73 are funded. It stands 7th in terms of total funding among its competitors. The most recent competitor to raise funding was Cambridge Mobile Telematics, which secured $350M in Mar, 2026.

Who are the top competitors of CarIQ?

CarIQ's top competitors include Cambridge Mobile Telematics, GreenRoad and Metromile. Among them, Cambridge Mobile Telematics secured the most recent funding round in March, 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 414 active competitors, including 73 funded and 36 that have exited. Its top competitors include companies like Cambridge Mobile Telematics, GreenRoad and Metromile.

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 & 46 more

Ranked

24^th among 414 active competitors

Annual Revenue

0 - ₹10 Cr as on Mar 31, 2026

Employee Count

50 as on Oct 31, 2026

Similar Companies

Cambridge Mobile Telematics & 492 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	Reports
Varroc Engineering Limited CIN: L28920MH1988PLC047335 , India, Active	May 11, 1988	₹1,000+ Cr (As on Mar 31, 2026)	2923 (As on Nov 30, 2024)
VARROC CONNECT PRIVATE LIMITED CIN: U74900MH2013PTC351817 , India, Active	Jan 11, 2013	0 - ₹10 Cr (As on Mar 31, 2026)	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 24 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	9510373	Series B	7762720	8177764	3777905	4048247
Aug 10, 2016	1468650	Seed	8706687	2740205	2458022	Rajendra Rajguru & 5 more
Sep 03, 2014	2814739	Seed	2208060	7009367	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 and 1 phone number
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 and 1 phone number
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 Tarang 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 10m
Hrishikesh Nene	Team	-	Current	8y 0m
axvvkzr	Investor	{vbzemu	Past	1y 4m
ghlkziu	Independent board member	-	Past	4y 5m
toibfm{	Independent board member	-	Past	2y 8m
qafpqzt	Independent board member	-	Past	6y 1m
fenlxqo	Independent board member	-	Past	6y 9m

View details of CarIQ's Founder profiles and Board Members

CarIQ's employee count trend

CarIQ has 50 employees as of Oct 26. Here is CarIQ's employee count trend over the years:

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Top competitors of CarIQ include Cambridge Mobile Telematics, GreenRoad and Metromile. 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	Cambridge Mobile Telematics 2010, Cambridge (United States), Series D	Provider of AI-powered telematics and mobility safety solutions	$852M	SoftBank Vision Fund, Allianz X & 4 others	72/100
2nd	GreenRoad 2004, Austin (United States), Series E	Provider of fleet telematics and management solutions	$81.5M	Generation Investment Management, Benchmark ... & 7 others	71/100
3rd	Metromile 2011, San Francisco (United States), Acquired	App that provides usage-based auto insurance platform for individuals	$295M	Intact Ventures, First Round Capital & 20 others	68/100
4th	OOONO 2017, Copenhagen (Denmark), Seed	Driver assistance solutions for drivers	$3.87M	Guerrilla Capital, Guerilla Capital & 1 others	65/100
5th	Zendrive 2013, San Francisco (United States), Acquired	AI-enabled platform offering driver behavior monitoring and analysis solutions	$60M	First Round Capital, XL Innovate & 19 others	64/100
6th	Octo Telematics 2002, Rome (Italy), Acquired	Provider of telematics and data analytics solutions for the insurance and connected mobility sectors	-	Keensight Capital, Tamburi Investment Partners ... & 4 others	62/100
7th	Ctrack 1985, Centurion (South Africa), Acquired	Provider of telematics solutions for fleet management and operational optimisation	$23.4M	Sanari Capital, Sanari Capital & 2 others	61/100
8th	Fairmatic 2019, Reno (United States), Series B	Online platform for commercial auto insurance	$88M	Foundation Capital, Battery Ventures & 12 others	60/100
9th	Six Sense Mobility 2020, Delhi (India), Seed	End-to-End fleet management solutions for fleet operators	$5.67M	Piper Serica, Docbel & 8 others	60/100
10th	OnStar 1996, Warren (United States), Unfunded	OnStar: Connected vehicle services providing safety, support, and connectivity	-	-	60/100
24th	CarIQ 2013, Pune (India), Acquired	Saas-based platform for vehicle diagnostics solutions	$16.6M	Visa, TELUS Ventures & 45 others	46/100

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

VARROC CONNECT PRIVATE LIMITED, the legal entity associated with CarIQ, generated less than ₹10 Cr in revenue for the financial year ending on Mar 31, 2026. The revenue of VARROC CONNECT PRIVATE LIMITED has a compounded annual growth rate (CAGR) of 3% in the last 1 year.

Financial Statement Summary

Metrics	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22
Income Statement
Revenue	6471	7825	2896	9629	9167
Total Sales	4134	4647	9745	1855	4030
Total Expenses	8195	6072	3985	5582	5884
Operating Expenses	9855	4768	7411	3251	1589
Employee Expenses	9980	2160	1597	7187	3694
Marketing Expenses	6887	1343	2824	5549	7380
Operating Income (EBIT)	7905	9776	9871	7157	6498
Interest Expenses	9096	9529	3441	6475	1075
Expenses from other activities	5367	7508	3127	6631	4123
Information Technology Expenses	1979	8882	5433	9715	5420
EBITDA	6633	7830	2625	6523	4254
Taxes	1078	2453	7637	4370	2877
Net Profit	1104	8604	3542	7523	7961
Balance Sheet
Assets	8859	5793	5668	6523	7207
Cash Equivalent	6390	9854	2803	8622	5803
Accounts Receivables	3521	1878	3586	8893	6006
Inventory	7113	1494	5852	9237	5280
Liabilities	2144	8438	3458	5444	4451
Total Debt	7237	1692	3670	6443	7774
Accounts Payable	2533	4623	6625	5191	6664
Equities	8919	9355	5863	4737	5569
Cashflow Statement
Cash from Operating activities	2828	7204	3471	6646	9347
Cash from Investing activities	2823	3045	7193	1300	7182
Net cash from Financing activities	5709	5344	1815	1227	1505