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GURUGRAM: According to the filings of the Registrar of Companies, Gurugram based Startup Spinny becomes the 39th unicorn of the year as it raises 1,849.45 Cr ( $248 million) from investors and returns. The company raised funds through an online fundraising event held by Abu Dhabi-based ADQ and New York-based investment firm Tiger Global.
Both the firms invested $100 million each in Spinny along with $50 million by Avenir Growth and $25 million by Arena Holdings.
Before this investment, the company valuation was $1.5 billion that turned into $108million.
Spinny is a used car marketplace, along with the other unicorns of the industry Car24, Cardekho, Cartrade, and IPO-bound Droom Pte. Ltd.
The company was founded in 2015 by Neeraj Singh, Mohit Gupta, and Ramanshu Mahaur.
Earlier in July, Spinny had raised $108 million in a Series D round led by Tiger Global. According to the reports, the fundraising which was a mix of primary and secondary investors valued the firm at $800 million in July.