Droom, a used car marketplace, has made headlines by raising undisclosed funding from rapper Badshah. With this funding, the firm aims to become a premier brand for millennials and Gen Z, having also partnered with Badshah.

As per the startup, the raised will be used to harness both financial resources and strategic counsel to propel its endeavours forward.

Droom | Used Car Marketplace

Founded by Sandeep Aggarwal in 2014, Droom is an AI and data science-driven e-commerce platform that connects used car dealers with customers. Revolutionizing the Indian automotive market through its suite of AI-driven marketplaces, products, and services, Droom also provides financing through its tie-ups with banks and NBFCs. 

Speaking about the development, Sandeep Aggarwal, Founder of Droom, highlighted that the popularity and social media reach of Badshah positions him as an ideal brand ambassador for Droom, adding that participation of Badshah is important for the brand as it adds credibility, visibility, and a fresh perspective to its initiatives. 

 Aggarwal said, 

“Badshah’s endorsement and promotion of Droom can lead to increased brand visibility, customer acquisition, and ultimately, revenue growth for the company.”

Statement from the Investor

Commenting on the partnership, Badshah said,

“I have been an auto enthusiast for a long time and impressed by how Droom is solving automobile-related trust, selection, and pricing problem.”

Aggarwal added that Droom is changing how automobiles should be bought and sold, highlighting that their partnership will reshape the future of automotive commerce. As per the startup, it provides India’s largest selection of automobiles, featuring over 250,000 vehicles. This includes both used and new cars, two-wheelers, and other types of vehicles that are available online across 1,174 cities.

In the financial year ended March 31, 2023, Droom’s India entity halved its loss and managed to narrow its net loss by 55%, from INR 137 Cr to INR 62.1 Cr in FY23, in the previous fiscal year. 

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