India's used-car startups plan IPOs, cost cuts

Used-car platform Spinny has reported a strong performance in FY25, with operating revenue rising 25% to ₹4,657 crore and net losses narrowing by 28% to ₹424 crore. The Gurugram-based startup achieved this momentum by improving gross margins and keeping costs under control, including employee expenses, interest, and depreciation. Operating losses also reduced by 27% to ₹381 crore, marking a second consecutive year of improvement in its financials. Following a tough funding environment, Spinny has been streamlining operations, exiting unprofitable segments, and sharpening its focus on profitability. In June, the company secured $170 million in fresh funding led by Accel Leaders Fund LP, with support from WestBridge Capital, Fundamentum, and existing investors including Tiger Global. The performance underscores Spinny’s growing foothold in India’s used-car market, as the industry consolidates and competitive dynamics evolve. #Spinny #UsedCars #StartupIndia #Profitability #BusinessGrowth #VentureCapital #FundingNews #AutoIndustry #IndianStartups #MarketConsolidation #Innovation #cxolanes

Used-car marketplace Spinny has reported a strong performance for the fiscal year 2025, clocking its all-time high operating revenue of ₹4,657 crore. This marks a significant 25% year-on-year growth, coupled with a major improvement in its bottom line as net losses fell by 28% to ₹424 crore. This isn't a story of sheer market expansion, but one of strategic discipline. Spinny's success in FY25 stems from a focused effort on improving gross margins and implementing stringent cost controls. The company consciously exited non-viable business segments and streamlined its core operations, leading to a significant reduction in employee costs, interest, and depreciation expenses. This marks a pivotal turn towards building a sustainable and efficient business model. Spinny's results send a powerful signal across India's used-car market and the broader startup ecosystem. In an era where venture capital is demanding a clear path to profitability, Spinny, alongside competitors like Cars24, is demonstrating that the blitzscaling playbook is over. The new game is about operational excellence and positive unit economics. This shift will likely intensify competition based on service quality and efficiency, rather than just deep discounts and cash burn. For daily, sharp analysis of the biggest moves in the Indian business and startup ecosystem, follow StartupFox. #Spinny #StartupFunding #Profitability #UsedCars #AutoTech #IndianStartups #BusinessNews #Cars24

Three unicorns CARS24, CarDekho Group, and Spinny are in early talks to launch initial public offerings worth a combined $1 billion over the next 12–18 months, driven by investor demand for leaner, profitable operations. Amidst this, Droom is also restructuring and planning to refile its IPO documents, reflecting a broader market push toward core used-car segments. Key highlights: ➤ CARS24 slashed non-core units and job cuts after a ₹5 billion loss in FY 2023–24 to streamline for IPO ➤ CarDekho paused its early-2025 IPO filings and plans to merge InsuranceDekho with RenewBuy ➤ Spinny slowed geographic expansion and is seeking fresh capital to stabilize operations ➤ Droom pivoted to premium and luxury segments, cutting costs and reorienting growth strategy ➤ CarTrade Tech remains the sole listed peer, with its 2021 IPO oversubscribed 20× and stock up 63% YTD As private funding tightens, these startups are prioritizing profitability, core-market focus, and regulatory readiness to attract public investors. Their IPO journeys will test India’s appetite for domestic-focused tech listings and set benchmarks for growth and governance in the booming second-hand car ecosystem. Vikram Chopra, Mehul Agrawal, Gajendra Jangid, Ruchit Agarwal, Amit Jain, Ramanshu Mahaur, Niraj Singh, Mohit Gupta 🚀 Got a startup story to tell? 💡 Share your news, funding updates & interviews with us! 👉 Visit: startuptoday.in 📩 Email: contact@startuptoday.in #StartupNews #CARS24 #CarDekho #Spinny #UsedCars #IPO #Founders #Entrepreneur #StartupIndia #StartupToday #Startup

🚗 𝐈𝐧𝐝𝐢𝐚’𝐬 𝐔𝐬𝐞𝐝-𝐂𝐚𝐫 𝐔𝐧𝐢𝐜𝐨𝐫𝐧𝐬 𝐇𝐞𝐚𝐝𝐞𝐝 𝐟𝐨𝐫 𝐈𝐏𝐎𝐬 Three of India’s biggest used-car startups — 𝐂𝐚𝐫𝐬𝟐𝟒, 𝐂𝐚𝐫𝐃𝐞𝐤𝐡𝐨, 𝐚𝐧𝐝 𝐒𝐩𝐢𝐧𝐧𝐲 — are cutting costs and restructuring to hit the 𝐈𝐏𝐎 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧 𝐭𝐡𝐞 𝐧𝐞𝐱𝐭 𝟏𝟐–𝟏𝟖 𝐦𝐨𝐧𝐭𝐡𝐬. Together, they could raise $1 billion+. 📊 FY24 Performance 𝐂𝐚𝐫𝐬𝟐𝟒 → $𝟏𝟎𝟖𝐌 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 | $70M loss 𝐂𝐚𝐫𝐃𝐞𝐤𝐡𝐨 → $𝟐𝟖𝟗𝐌 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 | $34M loss 𝐒𝐩𝐢𝐧𝐧𝐲 → $𝟒𝟔𝟐𝐌 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 | $71M loss 𝐃𝐫𝐨𝐨𝐦 → $𝟏𝟏𝐌 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 | $6M loss 💡 Why IPO now? Investors want profitability → early backers like Google Capital, Tencent, Tiger Global are pushing hard. Firms are shutting non-core businesses (e.g., Cars24 closed InSpare & FourDoor) to focus on the main used-car market. Private capital is drying up → IPOs are the new growth fuel. ⚠️ The challenge: All these companies are still loss-making despite scale. 👉 The big question: Will public investors back their growth story, or demand a clear road to profits? #IPO #Startups #UsedCars #IndiaGrowth

#FundingAlert 𝐇𝐚𝐧𝐝𝐩𝐢𝐜𝐤𝐝 𝐫𝐚𝐢𝐬𝐞𝐬 $15 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝐒𝐞𝐫𝐢𝐞𝐬 𝐀 𝐟𝐮𝐧𝐝𝐢𝐧𝐠 𝐥𝐞𝐝 𝐛𝐲 𝐁𝐞𝐫𝐭𝐞𝐥𝐬𝐦𝐚𝐧𝐧 𝐈𝐧𝐝𝐢𝐚 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 India’s first ‘zero-stock’ fresh commerce startup, Handpickd, has raised $15 million in a Series A round led by Bertelsmann India Investments, with participation from Titan Capital Winners Fund (TCWF) and existing investors.  🔗 𝐂𝐋𝐈𝐂𝐊 𝐇𝐄𝐑𝐄 𝐓𝐎 𝐊𝐍𝐎𝐖 𝐌𝐎𝐑𝐄...  https://lnkd.in/gJ9guBWX Anant V. Goel I Nitin Gupta I Rohit Sood I Shiv Kapoor #Funding #Handpickd #FreshCommerce #RetailIndustry #RetailGrowth #Retailing #BusinessGrowth #RetailResults #RetailIndia #RetailUpdates #RetailSectorNews #BusinessNews #RetailBusiness #IR #IndiaRetailing

Backed by Satya Nadella and top global investors, Groww has shifted its corporate domicile from Delaware to India and is preparing a multi-billion-dollar IPO — a landmark for Indian startups “coming home.” What makes this IPO stand out is the founders’ stance. Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh are retaining nearly all their equity, sending a clear signal of long-term confidence in Groww’s trajectory. 𝒇𝒐𝒓 𝒎𝒐𝒓𝒆 𝒅𝒆𝒕𝒂𝒊𝒍𝒔 https://lnkd.in/gCTj4YJ5 #GrowwIPO #ReverseFlip #IndianStartups #GrowwIndia #StartupIPO #IndianStockMarket #RetailInvesting #GrowwFounders #DelawareToIndia #TechIPOIndia

Fresh commerce startup Handpickd has secured Rs 125 crore in a Series A round led by Bertelsmann India Investments, with Titan Capital Winners Fund and existing investors also participating. The company plans to use the funding to hire more talent, expand its service reach, and strengthen its technology for supply chain efficiency. Read more: https://lnkd.in/g8AY4enk Anant V. Goel, Founder and CEO of Handpickd Rohit Sood, Partner at Bertelsmann India Investments Shiv Kapoor, VP, Titan Capital #D2C #business #news #market #update #Handpickd #funding #expansion #growth Sahil Madan| Nitin Gupta| Kriti Nagar| Ankit Kumar| Jahanvi Khandelwal| Aarushi Sen| Parinda Mayuri Saikia| Suyash Khandkar

Korean mobility startup AutoHands raised USD 11 million in pre-IPO funding to enhance its AI-driven mobility platform and prepare for a 2026 KOSDAQ listing. https://lnkd.in/eXb9ppfx

Used-car platform Spinny saw its operating revenue rise 25% to Rs 4,657 crore in FY25, while net losses fell 28% to Rs 424 crore, marking a second consecutive year of improvement. The Gurugram-based startup achieved this through better gross margins and controlled expenses, including lower employee costs, interest, and depreciation. Operating losses narrowed 27% to Rs 381 crore. After a tough funding period, Spinny has been streamlining operations, exiting loss-making segments, and focusing on profitability. In June, it raised $170 million in a round led by Accel Leaders Fund, with participation from WestBridge Capital, Fundamentum, and existing investors including Tiger Global. Spinny’s growth highlights its stronger foothold in India’s used-car market amid industry consolidation. Team Spinny✅ Niraj Singh| Ramanshu Mahaur| Mohit Gupta| Payal Nambiar| Gaurav Agarwal | Arshdeep Chhabra | Akansh Sinha| Rohan Aggarwal| Santosh Patchikura| Sambhaw Pandey| Riya Mehta| #spinny #revenueGrowth #lossDeclined #profit #carMarketplace #startupupdates #startupro

TrusTerra, an AI-backed marketplace for used electric vehicles (EVs), has raised Rs 9 crore in a pre-seed funding round led by Finvolve and India Accelerator. The round also saw participation from GrowthCap Ventures and strategic angels including Shishir Maheshwari (MD, E-Mobility/Eversource Capital), Samrath Kochar(Founder, Trontek Batteries), Ayush Lohia (CEO, Lohia Auto), Kapil Nirmal and other EV and fintech ecosystem investors. 🔗 Read full article link in comment Tanvir Singh | Saurabh Arora | Madhu Reddy | Ashish Bhatia | Pratekk Agarwaal #trusterra #usedcars #marketplaces #ev #funding #startupnews