Droom observes $ 150 million before the OPV

Chennai: The Droom online car market is on the street for a $ 150 million pre-OPV fundraising round, the last before an OPV in 2021.

According to Droom CEO Sandeep Aggarwal, this will be the company's sixth round of financing, for which Credit Suisse and two other advisors have been mandated to seek investors. Droom is planning an IPO list at the end of 2021 and funding will close in the next 4-5 months, Aggarwal said.

Currently valued at just under $ 1 billion, Droom has so far raised around $ 125 million from investors, including Lightbox, the Singapore-based global fund Beenext, the Japanese firm Beenos, the venture capital firm based in Tokyo Digital Garage, Toyota Tsusho Corporation and Hong Kong billion family offices of Integrated Asset Management. Many of our current investors will participate, but a new one will lead the round, Aggarwal said. Previously, several company investors had participated in multiple rounds.