India-based used car marketplace Droom has rolled out four new software offerings to mark its tenth birthday, according to a news release.

Two of these are targeted at the auto sector: MyDroom is a car management service with such features as roadside assistance, repairs and service and maintenance tracking, while Chairman Club is a suite of services for dealers, including used-car procurement, financing, marketing tools, lead generation, and certification.

Having launched proprietary cloud services 12 months ago, Droom has also launched AdReach and GoDigital, both of which are aimed at the wider market. AdReach is described as a “performance-driven marketing solution for businesses,” while GoDigital is a b-to-b self-service ecommerce offering.

Droom founder and CEO Sandeep Aggarwal said: “Droom has always been a trailblazer in leveraging AI and technology to disrupt the used cars industry. We are not only pure-play ecommerce for automobiles but also have built tech products and real IP.”

Founded in 2014, Droom says it works with more than 21,800 used car dealers and has a presence in nearly 1,174 cities and an inventory of 290,000 vehicles.

Last month, Droom raised $16.8 million U.S. in funding from 57 Stars and SevenTrainVentures. Having abandoned plans for an IPO in October 2022, the company now intends to go public next year.

Largely due to cost cutting, Droom’s net loss fell by 55% year on year to INR621 million ($7.4 million U.S.) on operating revenue of INR2.5 billion in FY22-23 (April 2022-March 2023).

 

 

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