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Image Credit: CARS24

Funding roundup December 20 – December 24: CARS24 hits US$3.3b in valuation, Croptide secures $1m in a pre-seed round, and Silver Lake leads Thrasio’s $1b Series D funding round

Dynamic Business brings you the key startup fundraising rounds from this week:

CARS24 raises US$400m, hits US$3.3b in valuation

CARS24 has announced the completion of a US$400 million round of funding, which includes a US$300 million Series G equity round and a US$100 million debt round from diversified financial institutions. 

This is CARS24’s third round in less than a year, and it values the used car e-commerce player at $3.3 billion, which is nearly double the valuation from its previous round in September 2021. 

The Series G equity round was led by return investor Alpha Wave Global (formerly known as Falcon Edge Capital), with other investors’ participation. 

CARS24 also raised a total of US$100 million in debt funding across India and the UAE, which, when combined with Australia’s November debt raise via IMF Investors, totals US$100 million.

Thrasio raises $1billion Series D funding round led by Silver Lake 

Thrasio Holdings announced the initial closing of more than $1 billion in Series D financing led by Silver Lake, the global leader in technology investing, and existing investor Advent International, Thrasio’s largest shareholder. 

The round was also attended by existing investors Upper90, Oaktree Capital Management, L.P., and PEAK6 Investments. Thrasio’s financial advisor was J.P. Morgan Securities, LLC, and its legal counsel was Cooley, LLP.

Thrasio’s total funding now exceeds $3.4 billion, including the $650 million incremental debt facility announced last month.

Croptide secures $1m in pre-seed round

Croptide, a New Zealand-based agritech startup that sends plant water health data to a farmer’s phone in seconds, has raised $1 million in pre-seed funding. 

Icehouse Ventures led the round with Sir Stephen Tindall’s K1W1 and Masfen Group support. Croptide employs internet-enabled sensors to provide fruit and wine grape growers with real-time water measurement data.

Officely secures $2.8m in seed round

Officely, a hybrid office desk booking service, has raised $2.8 million in seed funding. The round was led by TEN13, with angel investors including Go1 co-founder Vu Tran and Luxury Escapes co-founder Adam Schwab. 

The funds will be used to grow the product offering and feature sets and expand the team.

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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