Buy this product here: I Am A Trucker I Don’t Have An Inside Voice Just A Month With No Filter Shirt, hoodie

Home page:  Beutee Store

I Am A Trucker I Don’t Have An Inside Voice Just A Month With No Filter Shirt, hoodie

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.

Carro also wants to beef up its financial services offerings by expanding beyond in-house loan financing, and will accelerate development of its artificial intelligence capabilities.

“Powered by AI, Carro’s technology platform provides consumers with full-stack services and transparency throughout the car ownership process,” said Greg Moon, managing partner at SoftBank Investment Advisers.

AI software scans images of cars to detect potential problems while mechanics at Carro check the vehicles for defects. This speeds up the transaction process by as much as 20% and reduces human error by up to 80%, according to Carro.

CEO Aaron Tan, who co-founded Carro in 2015, told Nikkei Asia that his company was exploring business-to-business financing and insurance. “Insurance should be customized for everybody,” he said. “It shouldn’t be one-size-fits-all.”

The startup topped the annual ranking for high-growth companies in the Asia-Pacific region in research compiled by Nikkei Asia and Statista.

Carro had a 2016-2019 compound annual growth rate of 422% and 2019 revenues of $86 million. In the same period, employees grew from 10 to 400. The company said it recorded positive EBITDA — earnings before interest, taxes, depreciation, and amortization — for the second straight year.

Attention on Southeast Asian high-growth tech startups like Carro has increased, with a flurry of deals being made this year by young companies seeking to strengthen their position in a region where economies are set to rebound from the pandemic.

Visit our Social Network: Beutee Pinterest,Instagram, Twitter and Our Blog beuteenet blogspot