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India : Girnar Software secures Google Capital's investment for expansion, research and development.

As part of its extended Series B funding round, in which current investor Hillhouse Capital also took part, the owner of six portals including auto portals CarDekho.com and Gaadi.com, Girnar Software Pvt Ltd, has received an undisclosed amount of investment from Google Capital.

In January last year, the company had raised $50 million in the first tranche of the Series B funding round led by Hillhouse Capital, with participation from Sequoia Capital and Tybourne Capital. The investment was implemented at a post-money valuation of $300 million.

HDFC Bank and Ratan Tata had also invested in Girnar Software in 2015.

The company will use the money raised now to develop technology, expand operations within and outside India and for research and development.

Amit Jain, CEO and co-founder of Girnar Software, said,"Google Capital is one of most respected growth equity investors in the world, and brings to us the resources and expertise from one of the most valuable technology companies on the planet."

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Publication:Mena Report
Date:Mar 22, 2016
Words:177
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