Droom expects $ 150 million before IPO

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

According to the Droom CEO, 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 Tokyo-based VC firm Digital Garage, Toyota Tsusho Corporation, and Hong Kong Multi-million dollar family office based on 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.

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