Japan's Softbank Supercharges Singapore's Carro To Unicorn Status - Nikkei Asia

by asia.nikkei.com posted 1month ago 4 views
SINGAPORE -- Japan's SoftBank Group has led a $360 million Series C funding round in Singapore online car sales platform Carro, propelling the Southeast Asian startup into the ranks of unicorns -- companies with a valuation of $1 billion or more. Carro announced on Tuesday that the new round of financing, which included other investors such as Indonesia-based fund EV Growth, made the company the first automotive unicorn in Southeast Asia. The startup said it will use the funds to expand its retail presence across Indonesia, Thailand, Malaysia and Singapore, countries which saw significant market growth the past year.

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