When was Carnation founded?

Carnation was founded in 2008 and raised its 1st funding round within a year of its incorporation.

Where is Carnation located?

Carnation is headquartered in Noida, India. It is registered at 11/3, 2nd Floor, Park Road Diamoni 5 East Patel Nagar, Near Corp Bank ATM, New Delhi, New Delhi, Delhi, India, 110008.

Which legal entities is Carnation associated with?

Carnation is associated with CARNATION AUTO INDIA PRIVATE LIMITED and 3 others.

How many employees does Carnation have?

As of Apr 30, 2026, the latest employee count at Carnation is 290.

Is Carnation a funded company?

Carnation is a funded company, having raised a total of $42.7M across 6 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Oct 03, 2008.

How much is Carnation worth?

The last known valuation of Carnation was ₹***** as of Sep 04, 2015.

When was the latest funding round of Carnation?

Carnation's latest funding was a $***** Series B round on Sep 04, 2015, with participation from 1 investor.

What is the annual revenue of Carnation?

Annual revenue of Carnation is ₹2.44Cr as on Mar 31, 2018.

Where does Carnation rank among its competitors?

Carnation ranks 12th amongst 159 active competitors, of which 8 are funded. It stands 7th in terms of total funding among its competitors. The most recent competitor to raise funding was Spinny, which secured $90M in Dec, 2025.

Who are the top competitors of Carnation?

Carnation's top competitors include Spinny, CarDekho and CarWale. Among them, Spinny secured the most recent funding round in December, 2025.

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

Carnation is an acquired company based in Noida (India), founded in 2008. It operates as an Online listing portal to buy new and used cars along with car service. Carnation has raised $42.7M in funding from investors like Gaja Capital, Premji Invest and GPE India, with last known valuation of ₹*****. The company has 159 active competitors, including 8 funded and 8 that have exited. Its top competitors include companies like Spinny, CarDekho and CarWale.

Company Details

Carnation is an online platform that allows users to search for new cars, compare various models of cars based on the preferences and budget of the user, book a test drive etc. Also provides car service (breakdown assistance, accident assistance, free towing) through franchisee network of Carnation outlets. The platform also serves as a point of meeting for buying and selling used cars along with valuation services. Other tools such as EMI calculator, on-road car price, affordability calculator, browsing cars by brand car comparison engine are available for the visitors on the portal. Entered into a strategic partnership with Quikr to offers its car inspection services to the classifieds portal.

Website: carnation.in
Social
Phone Number: +91 **********
Registered Address: 11/3, 2nd Floor, Park Road Diamoni 5 East Patel Nagar, Near Corp Bank ATM, New Delhi, New Delhi, Delhi, India, 110008

Key Metrics

Founded Year

2008

Location

Noida, India

Stage

Acquired

Total Funding

$42.7M in 6 rounds

Latest Funding Round

Series B, Sep 04, 2015, $*****

Last Known Valuation

₹***** as on Sep 04, 2015

Investors

Gaja Capital & 7 more

Ranked

12^th among 159 active competitors

Annual Revenue

₹2.44Cr as on Mar 31, 2018

Employee Count

290 as on Apr 30, 2026

Similar Companies

CarDekho & 985 more

Exit Details

Acquired by Mahindra First Choice Services (Dec 03, 2018)

View Carnation's full profile

Carnation is associated with 4 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count
CARNATION INSURANCE BROKING COMPANY PRIVATE LIMITED CIN: U66000DL2010PTC209308 , India, Active	Oct 11, 2010	$5.27K (As on Mar 31, 2018)	-
CARNATION REALTY PRIVATE LIMITED CIN: U45208DL2008PTC182230 , India, Active	Aug 20, 2008	$0 (As on Mar 31, 2018)	-
CARNATION AUTO INDIA PRIVATE LIMITED CIN: U34200DL2008PTC172214 , India, Dissolved (Liquidated)	Jan 03, 2008	$378K (As on Mar 31, 2018)	19 (As on Mar 31, 2018)
CARNATION MOTORS PRIVATE LIMITED CIN: U50404DL2008PTC183857 , India, Active	Sep 30, 2008	-	-

Carnation got acquired by Mahindra First Choice Services on Dec 03, 2018.

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

Carnation has raised a total funding of $42.7M over 6 rounds. Its first funding round was on Oct 03, 2008. Its latest funding round was a Series B round on Sep 04, 2015 for $*****. 1 investor participated in its latest round. Carnation has 8 institutional investors.

Here is the list of recent funding rounds of Carnation:

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Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Sep 04, 2015	9894366	Series B	1315856	3118440	4027488	2374004
Aug 27, 2014	1609566	Series B	6652833	6131416	9552997	9653529
Dec 12, 2013	4422398	Series B	6021239	5033341	Gaja Capital & 1 more	GPE India & 1 more

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View details of Carnation's funding rounds and investors

Carnation's Board of Directors

Carnation's board has 3 active members. Ranjit Jayant Shah, Achyutanand Choudhary and Jagdish Khattar are part of team.

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

Name	Type	Representing	Status	Duration
Achyutanand Choudhary	Team	-	Current	10y 7m
efrdtud	Team	-	Past	2y 4m
czalbyy	Team	-	Past	1y 2m
svaieus	Team	-	Past	3y 3m
kyqmwc{	Team	-	Past	5y 3m
{tchxtb	Team	-	Past	6y 5m
Ranjit Jayant Shah	Investor	Gaja Capital	Current	14y 4m

Carnation's employee count trend

Carnation has 290 employees as of Apr 26. Here is Carnation's employee count trend over the years:

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Top competitors of Carnation include Spinny, CarDekho and CarWale. Here is the list of Top 10 competitors of Carnation, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Spinny 2015, Gurugram (India), Series G	Online retailer of inspected used vehicles with service and financing	$698M	Accel, Tiger Global Management & 55 others	83/100
2nd	CarDekho 2008, Jaipur (India), Series C	App based platform offering car buying, selling, and comparison services	$60M	Dragon Funds, Navis Capital Partners & 6 others	83/100
3rd	CarWale 2003, Mumbai (India), Acquired	Online listing platforms that facilitate the sale of second-hand cars	$5.85M	Sierra Ventures, SVB & 12 others	79/100
4th	CarTrade 2006, Navi Mumbai (India), Public	App-based used cars listing platform	$272M	Temasek, Marche Capital & 9 others	78/100
5th	Droom 2014, Gurugram (India), Series G	Online retailer of used and new automobiles, plus related services	$344M	Digital Garage, Toyota Tsusho & 67 others	75/100
6th	ZigWheels 2008, Jaipur (India), Acquired	Online portal to find new and used car deals	-	-	66/100
7th	Truebil 2015, Mumbai (India), Acquired	Online P2P marketplace for used cars	$26.9M	Kalaari Capital, Shunwei Capital & 9 others	64/100
8th	CarTrade Tech 2006, Mumbai (India), Public	Online marketplace for used cars	$328M	Temasek, Canaan & 26 others	61/100
9th	Blive 2018, India, Seed	Provider of electric vehicle fleet rentals, charging, and management solutions	$3.04M	LetsVenture, Mumbai Angels & 37 others	55/100
10th	Mahindra First Choice 2007, Mumbai (India), Series C	Retailer of certified, pre-owned vehicles, providing inspection, warranty, and finance options	$72.3M	Mahindra, Valiant Mauritius Partners FDI ... & 21 others	51/100
12th	Carnation 2008, Noida (India), Acquired	Online listing portal to buy new and used cars along with car service	$42.7M	Premji Invest, IFCI Venture Capital Funds ... & 6 others	46/100

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Founders own 16.98%, Funds own 8.37%, Enterprises (largest shareholder) own 72.43% and ESOP Pool own 2.21%. The net worth of Carnation's founders is INR 92.1Cr as of Sep 04, 2015.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	16.98%	92.1Cr	7307362	2801959	5770015	5197140
Fund	8.37%	45.4Cr	3955721	7803787	8115337	3472192
Gaja Capital	41	39	45	79	28	67
Enterprise	72.43%	393Cr	5130041	9134357	1746693	9009856
ESOP Pool	2.21%	12Cr	30	40	14	60
Total	99.99%	542Cr	6529128	7628940	6202439	7275864