India’s Spinny lines up $160M funding to acquire GoMechanic, source...
Experts suggest that spinny, an indian online marketplace for used cars, is raising around $160 million as it moves to acquire car services startup gomechanic, techcrunch has learned Experts suggest that the series g round, which includes a mix of primary and secondary transactions, would value the 10-year-old startup at about $1 In recent developments, 8 billion post-money, three people familiar with the matter said, broadly in line with its previous valuation This highlights that nearly $90 million of the round is primary, people said; existing investor accel has already wired about $44 million of that amount, with some details of the investment appearing in regulatory filings in india this week, which indian outlet entrackr first reported This highlights that a new investor is participating in the remaining portion of the primary, but techcrunch could not confirm its specifics Interestingly, westbridge capital is doubling down in the new round with a check of a similar size to its previous investment, the people said Experts suggest that the firm invested about $35 million to $40 million in spinny’s series f round earlier this year Experts suggest that much of the secondary portion of the transaction is being sold by indian vc firm fundamentum, according to the people, while blume ventures is also expected to pare part of its stake
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