India-based used-car marketplace CarDekho has launched TractorDekho, a subsidiary for customers in the farming community to buy and sell used tractors.

According to a media report, TractorDekho has formed partnerships with over ten tractor manufacturers for transactions and exchange deals. Additionally, the dedicated site will provide access to dealers, comparison tools, tractor reviews and information, and service centers. CarDekho aims to “revolutionize the agricultural sector by providing a wealth of resources.”

Mayank Jain, CEO of new auto at CarDekho Group, added: “Recognizing the critical role tractors play for farmers and their struggle with limited information, we are now intervening to simplify their research for a tractor by identifying the right choice for them. By closing the gap in information, our aim is to help farmers in their decision journey, thereby fostering rural economic growth across the nation.”

CarDekho has been actively diversifying its revenue streams and service lines. In April 2022, it launched its fintech vertical Rupyy, in which it invested $100 million U.S. a few months later. CarDekho Group appointed Mayank Thatte as CFO of Rupyy last June.

Later in December 2023, CarDekho acquired a majority stake in Revv, a self-drive car rental startup, making it available on its site for customers to rent cars. The launch of TractorDekho is part of the same strategy, to consolidate multiple automotive startups and services under the umbrella of the CarDekho Group. The strategy underpins the company’s intention to go public in the near future.

Majority-owned by GirnarSoft, CarDekho currently has 50 million unique monthly visitors. Predominantly a used-car marketplace, CarDekho posted INR24 billion ($287 million U.S.) in consolidated revenue for the 12 months to March 2023 (FY22-23), up 46.3% year on year (y-o-y). Rising spending, particularly on advertising and promotions, increased its losses by 130% y-o-y to INR5.6 billion.

The company abandoned its b-to-c model in May 2023, citing excessive cash burn.

Print Friendly, PDF & Email

Related Articles