The pandemic has pushed an online used car seller into India’s unicorn club

Indians’ fear of contracting coronavirus has given birth to the country’s latest unicorn.

On Nov. 24, Cars24 India, an online marketplace for second-hand cars, said it had raised $200 million (Rs1,330 crore) on a valuation of over $1 billion. The Gurugram-based company raised the money from DST Global, the investment firm led by Russia’s most influential tech investor Yuri Milner.

Cars24 joins a host of Indian startups that crossed $1-billion in valuation during the pandemic. Most of these ventures got a push as Indians opted to stay indoors and transact online to avoid contracting the virus.

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Originally published on Quartz : Original article

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