When was CarWale founded?

CarWale was founded in 2003 and raised its 1st funding round 3 years after it was founded.

Where is CarWale located?

CarWale is headquartered in Mumbai, India. It is registered at 12th Floor Vishwaroop IT Park Sector 30A, Vashi, Thane, Navi Mumbai, Maharashtra, India, 400705.

Which legal entities is CarWale associated with?

CarWale is associated with AUTOMOTIVE EXCHANGE PRIVATE LIMITED and 1 other.

How many employees does CarWale have?

As of Mar 31, 2025, the latest employee count at CarWale is 1150.

Is CarWale a funded company?

CarWale is a funded company, having raised a total of $5.85M across 4 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Aug 09, 2006.

How much is CarWale worth?

The last known valuation of CarWale was $***** as of Nov 12, 2015.

When was the latest funding round of CarWale?

CarWale's latest funding was a $***** Series A round on Jan 24, 2014, with participation from 1 investor.

What is the annual revenue of CarWale?

Annual revenue of CarWale is between ₹500 Cr and ₹1,000 Cr as on Mar 31, 2026

Where does CarWale rank among its competitors?

CarWale ranks 5th amongst 169 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 CarWale?

CarWale's top competitors include Spinny, Cars24 and CarDekho. Among them, Spinny secured the most recent funding round in December, 2025.

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

Q: Is CarWale an acquired company?

CarWale got acquired by CarTrade on Nov 12, 2015.

CarWale is an acquired company based in Mumbai (India), founded in 2003 by Mohit Dubey, Gaurav Verma and Arun Kumar Sahlam. It operates as an Online listing platforms that facilitate the sale of second-hand cars. CarWale has raised $5.85M in funding from investors like SVB, Sierra Ventures and Axel Springer, with last known valuation of $*****. The company has 169 active competitors, including 8 funded and 7 that have exited. Its top competitors include companies like Spinny, Cars24 and CarDekho.

Company Details

Online listing platforms that facilitate the sale of second-hand cars. The platform enables consumers to research various brands of cars, pricing, and insurance policies and serves as a listing platform to connect buyers and sellers of cars. Their app is available for iOS and Android devices.

Website: www.carwale.com/
Social
Email ID: *****@carwale.com
Phone Number: +91 **********
Part Of
Registered Address: 12th Floor Vishwaroop IT Park Sector 30A, Vashi, Thane, Navi Mumbai, Maharashtra, India, 400705

Key Metrics

Founded Year

2003

Location

Mumbai, India

Stage

Acquired

Total Funding

$5.85M in 4 rounds

Latest Funding Round

Series A, Jan 24, 2014, $*****

Last Known Valuation

$***** as on Nov 12, 2015

Investors

SVB & 13 more

Ranked

5^th among 169 active competitors

Annual Revenue

₹500 - ₹1,000 Cr as on Mar 31, 2026

Employee Count

1,150 as on Mar 31, 2025

Similar Companies

CarDekho & 941 more

Exit Details

Acquired by CarTrade (Nov 12, 2015)

View CarWale's full profile

CarWale is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Cartrade Tech Limited CIN: L74900MH2000PLC126237 , India, Active	Apr 28, 2000	₹500 - ₹1,000 Cr (As on Mar 31, 2026)	1096 (As on May 31, 2026)
AUTOMOTIVE EXCHANGE PRIVATE LIMITED CIN: U72200MH2003PTC244158 , India, Amalgamated	Jan 16, 2003	₹50 - ₹100 Cr (As on Mar 31, 2019)	431 (As on Mar 31, 2020)

CarWale got acquired by CarTrade on Nov 12, 2015 at an acquisition amount of $*****.

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

CarWale has raised a total funding of $5.85M over 4 rounds. Its first funding round was on Aug 09, 2006. Its latest funding round was a Series A round on Jan 24, 2014 for $*****. 1 investor participated in its latest round. CarWale has 7 institutional investors and 7 angel investors.

Here is the list of recent funding rounds of CarWale:

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Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jan 24, 2014	6942658	Series A	8630538	2382678	2025018	8071871
Nov 29, 2010	6226489	Series A	7773884	3690671	8407975	4745604
Oct 10, 2008	5055159	Series A	1321614	4250977	Sierra Ventures	7504826

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View details of CarWale's funding rounds and investors

The founders of CarWale are Mohit Dubey, Gaurav Verma and Arun Kumar Sahlam.

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

Mohit Dubey: Co-Founder of CarWale. They are also an angel investor in 5 startups and serve on the board of 1 company.
Contact Info: 1 email address
Gaurav Verma: Former Co-Founder of CarWale. They serve on the board of 1 company.
Arun Kumar Sahlam: Former Co-Founder of CarWale and founder of 1 other company.

CarWale's Board of Directors

CarWale's board has 3 active members. Mohit Dubey is part of team and Siddharth Narayan and Rajeev Kumar are independent board members.

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

Name	Type	Representing	Status	Duration
Mohit Dubey	Team	-	Current	18y 11m
{hnyced	Team	-	Past	2y 4m
nekdkrb	Team	-	Past	6y 4m
jpafdfp	Investor	-	Past	6y 7m
hqhyivl	Investor	xsta{bc	Past	3y 8m
Siddharth Narayan	Independent board member	-	Current	8y 8m
q{qnlgd	Independent board member	-	Current	1y 7m
{jjqjfo	Independent board member	-	Past	4y 5m
euvsuhi	Independent board member	-	Past	3y 8m
j{slywu	Independent board member	-	Past	5y 1m
lzixcjt	Independent board member	-	Past	8y 7m

View details of CarWale's Founder profiles and Board Members

CarWale's employee count trend

CarWale has 1,150 employees as of Mar 25. The total employee count is 15.0% more than what it was in Mar 24. Here is CarWale's employee count trend over the years:

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Top competitors of CarWale include Spinny, Cars24 and CarDekho. Here is the list of Top 10 competitors of CarWale, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Spinny 2015, Gurugram (India), Series G	Retailer of inspected pre-owned vehicles with home delivery service options	$698M	Accel, Tiger Global Management & 56 others	76/100
2nd	Cars24 2015, Gurugram (India), Series G	Retailer of used vehicles, new vehicle information, loans, and related services	$1.08B	Alpha Wave Global, DST Global & 73 others	76/100
3rd	CarDekho 2008, Jaipur (India), Unfunded	App based platform offering car buying, selling, and comparison services	-	-	76/100
4th	Droom 2014, Gurugram (India), Series G	Online retailer of used and new automobiles, plus related services	$344M	Digital Garage, Toyota Tsusho & 67 others	74/100
5th	CarWale 2003, Mumbai (India), Acquired	Online listing platforms that facilitate the sale of second-hand cars	$5.85M	Innoven Capital, Sierra Ventures & 12 others	72/100
6th	Truebil 2015, Mumbai (India), Acquired	Online P2P marketplace for used cars	$26.9M	Kalaari Capital, Shunwei Capital & 9 others	64/100
7th	CarTrade Tech 2006, Mumbai (India), Public	Online marketplace for used cars	$328M	Temasek, Canaan & 26 others	62/100
8th	ZigWheels 2008, Jaipur (India), Acquired	Online portal to find new and used car deals	-	-	59/100
9th	CarTrade 2006, Navi Mumbai (India), Unfunded	Operator of online marketplaces for buying and selling motor vehicles	-	-	58/100
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

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

Founders own 7.57%, Funds own 0.00%, Enterprises (largest shareholder) own 79.36% and Angels own 0.00%. The net worth of CarWale's founders is INR 9.39Cr as of Jan 24, 2014.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	7.57%	9.39Cr	7203886	7419354	7129387	4498261
Mohit Dubey	3135164	5299651	4447392	1753373	3466222	2725724
Fund	-	0	0	0	0	0
Seedfund	0	0	0	0	0	0
Sierra Ventures	0	0	0	0	0	0
SVB	0	0	0	0	0	0
Enterprise	79.36%	98.3Cr	8831907	5155313	3019283	8134255
Angel	-	0	0	0	0	0
Vikram Chachra	0	0	0	0	0	0
ESOP Pool	13.07%	16.2Cr	5953849	2837642	4265286	7549543
Total	100.00%	124Cr	2185676	8463266	8440735	4608940