PeopleStrong acquired SaaS firm Qilo

PeopleStrong HR Services Pvt. Ltd, a human resources technology company, has acquired software-as-a-services company Qilo Technologies Pvt. Ltd in its third takeover deal over the past two years. The acquisition will help PeopleStrong strengthen its talent and workforce management offerings.

The acquisition will help the firm’s clients simplify and measure strategy execution and align individual performance to business outcomes across all levels. Noida-based Qilo was incorporated in 2015. The firm says it helps organizations by providing them solutions relating to strategy execution and objectives and key results (OKR) performance management.

Its platform delivers services such as team alignment, real-time visibility, business digitization, and performance measurement. The company has worked with organizations such as BigBasket, Meesho, Chumbak, and CarDekho.

PeopleStrong, meanwhile, was set up in 2005. The HR services firm says it has around 1,000 employees and more than 170 customers across industries. Its services cover the whole spectrum of human resources, including talent acquisition, human capital management, workplace data and insights, and payroll functions.

Girnar Software acquires PowerDrift

Jaipur based Girnar Software Pvt. Ltd, which owns auto portals CarDekho.com, BikeDekho.com and Gaadi.com has acquired automotive content YouTube channel PowerDrift for an undisclosed amount.

Owned and operated by PowerDrift Studios Private Limited, the YouTube channel uploads videos reviews of cars and motorcycles. The channel has about a million subscribers today. PowerDrift claims to have generated 240 million lifetime views on its channel, with an average of 200,000 views per video.

Girnar Software, founded in 2007 also owns TyreDekho.com and BuyingIQ.com (online shopping adviser). In 2014, Girnar had acquired Naspers Group-owned Gaadi.com. It also bought Zigwheels.com from Times Internet in September 2015. The same year, it invested $1 million in edu-tech startup CollegeDekho.

Besides Gaadi.com and Zigwheels.com, Girnar Software acquired several other companies. These include Drishya360s (virtual reality), Volob Technologies (AR-VR focused visual communications), Connecto (SaaS start-up), Help on Wheels (roadside assistance), Valueserve Management Consultants Pvt. Ltd (consulting firm), and Advanced Structures India (car-testing and benchmarking firm).

TVS Group acquires CheckGaadi.com

TVS & Sons Group has acquired Bengaluru headquartered CheckGaadi.com, a provider of vehicle inspection technology and CRM solutions. CheckGaadi was founded in January 2015. The startup provides hassle free “vehicle inspection services” for 2-wheelers and 4-wheelers vehicles. It also provides bike-servicing on its platform.

With this move, proprietary technology of CheckGaadi will be transferred to TVS. It will continue business operations as part of TVS. CheckGaadi scaled up to a team size of 30 across 11 major cities serving close to 75,000 customers till date. The CheckGaadi customer engagement solution relies on predictive analytics and machine learning algorithms.

It makes use of vehicle health information to make predictions about its future and automatically determines the best time and context to connect with the customer. On the other hand, the TVS Group is a leading supplier of automotive components. The automobile market in India is pegged at $125 Billion. Out of which, $100 Billion is the estimated share of automobile sale and remaining $25 Billion including services. It is expected to grow at a rate of about 10% to a whopping $225 Billion by 2020.

In May 2017, Mumbai-based online automobile classifieds platform, CarTrade’s parent company MXC Solutions, acquired vehicle inspection and valuation venture Adroit Inspection in an all-cash deal. In June 2017, Gurugram - based used car marketplace Spinny raised $1 Mn Seed funding led by Blume Ventures, Indian Angel Network, and FreeCharge. Other startups that work in this segment apart from CheckGaadi include Droom, CarWale, MahindraFirstChoice, Carnation, CarDekho, CarTrade, along with some classifieds players such as Quikr and OLX.

Quikr Acquires Stepni

Online classifieds platform Quikr India Pvt. Ltd has acquired Stepni, a Bengaluru based start-up that connects vehicle owners with service providers for an undisclosed amount. Quikr has been driving a verticalization exercise, under which the company is focusing on five key business segments – automobiles, real estate, jobs, services, and customer-to-customer sales.

The acquisition of Stepni is expected to help Quikr strengthen car-related services under the QuikrCars vertical, as well as boost its services business, QuikrServices. Stepni, founded in October 2015, claims to have a network of more than 125 service centres across Bangalore. As a classified portal, Quikr has just one rival, OLX, which is backed by Naspers Ltd, a South African Mass media company.

In car segment, Quikr competes with the likes of Warburg Pincus backed CarTrade, which has so far raised at least $185 Million from investors, and CarDekho, which has raised at least $90 Million from Sequoia Capital and Google Capital. The real estate segment has businesses such as Housing, Magicbricks, PropTiger and others. Similarly, the Hyperlocal services segment has deep pocketed start-ups such as Housejoy and UrbanClap, while in the jobs category, the likes of Babajob and Aassan Jobs compete with Quikr.

Quikr is growing beyond a listing platform to a one-stop shop for used goods by enabling payments on its platform, as well as facilitating logistics, a move likely to throw open additional revenue channels at a time when a slowdown in external funding is prompting start-ups to reduce cash burn and focus on profitability. The company has been investing aggressively to build the five verticals by both acquiring companies and making strategic investments.

CarDekho buys Volob Technologies

Jaipur based Girnar Software Pvt. Ltd which owns and operates online portals CarDekho.com, Gaadi.com and Zigwheels.com has acquired Volob Technologies, a virtually reality startup in all cash deal. The deal size was undisclosed.

This is the third acquisition that the company has made this year. In April, it bought SaaS Startup Connecto and roadside assistance start-up Help on Wheels Pvt. Ltd in a cash and stock deal. Volob was founded in 2010 and provides 3D visualization solutions to various industries, primarily automotive, and this acquisition will strengthen 3D visualization capabilities of CarDekho by use of virtual and augmented reality.

CarDekho.com acquisition of Volob is aimed at amplifying the visual experience of car buyers in both real and virtual settings. GirnarSoft has enriched its value proposition for online buyers, dealers and OEMs. CarDekho, which is currently valued at $380 Million, raised funds from Google Capital and Hillhouse in March. The company that started out as a portal for used cars branched out to provide new car services after it acquired Gaadi.com in 2014.

Revenue generation for the company is greatly dependent on advertisement revenues from the new car segment. The strategy to move to the new car segment was adopted by rival CarTrade.com that acquired CarWale.com in 2015 and also raised Rs950 crore in a round led by Singapore based investment firm Temasek and March Capital this year. As part of its expansion plans in India, CarDekho is looking to add value added services. It launched insurance, accessories and tyres last year, in addition to roadside assistance services.

CarDekho acquires Help on Wheels

Girnar Software Pvt. Ltd, which runs online auto classifieds portal CarDekho, has acquired roadside assistance firm Help on Wheels Pvt. Ltd, for an undisclosed amount. The acquisition comes two weeks after Girnar Software raised an undisclosed amount of funding from Google Capital.

The used car market in India is currently as big as the new car market. The report adds that first time buyers in India are increasingly opting for pre-owned cars. Companies operating in the used car space have been raising funds to compete in one of the fastest growing business verticals. Girnar acquisition will help the company compete against its rival Cartrade.com which raised INR 950 crore in funding led by Singapore based investment firm Temasek and March Capital.

The company had raised $30 Million in 2014 from a group of investors that included Tiger Global, Warburg and Canaan Partners. Help on Wheels was founded in 2014 and has a client base of 50,000. All the employees of Help on Wheels will be absorbed by CarDekho. Girnar Software, which operates other portals, including Zigwheels, Gaadi.com, Pricedekho.com and Bikedekho.com, had raised $50 Million in January 2015 from Hillhouse, Tybourne, and Sequoia Capital.

In the last two years, the company has acquired four other companies – Drishya360, Gaadi.com, Zigwheels and BuyingIQ. Other auto classifieds start-ups include Droom Technology Pvt. Ltd, which raised $16 Million in a round led by Lightbox in July last year and Truebil which raised $500,000 in its first funding round from KAE Capital in June last year.

CarTrade buys CarWale

The auto market in India is both huge and disorganized. A number of well-funded online portals have come up in recent times to connect sellers with buyers more efficiently in this chaotic market. But now consolidation is under way as competition gets intense.

Online automobile classifieds firm CarTrade has acquired rival CarWale from German Media conglomerate Axel Springer signaling the rising consolidation in the industry segment. This comes soon after another major player in this space; CarDekho announced the acquisition of Times Internet Zigwheels. Earlier it had acquired another portal called Gaadi from the Ibibo group.

CarTrade buyout of CarWale comes a year after it raised $30 Million in a funding round led by Warburg Pincus and Chip Perry. In November 2013, CarDekho parent company Girnar raised $15 Million in a Series A round of funding from Sequoia Capital. In January 2015, it raised its big Series B round of $50 Million from Chinese investment management firm Hillhouse Capital and Hong Kong based hedge fund Tybourne Capital.

Indian Tycoon Ratan Tata had also pumped in an undisclosed amount into the company. In May, another undisclosed round of funding came from private sector lender HDFC Bank. With all the money in the bank, CarDekho has some serious muscle to flex in its tussle         with CarTrade.