CarTrade acquires vehicle inspection startup Adroit Inspection

CarTrade, the online automobile classifieds platform, has acquired vehicle inspection and valuation startup Adroit Inspection in an all-cash deal. The latest acquisition comes after more than a year of buying rival CarWale. Adroit undertakes inspection and valuation of automobiles for clients including banks, insurance companies, and non-banking finance companies, and boasts of over 300 inspectors across the country.

Vinay Sanghi, CEO CarTrade, said that “Inspection is the country’s largest auto inspection company and is expected to inspect 1 million vehicles this year. We also have our car certification business and this acquisition is a huge strategic fit for us”. Adroit CEO also said in the same tone that “We are very happy with this partnership and are excited to be a part of CarTrade, which is India’s largest used and new car online platform”.

In Nov’15, CarTrade acquired rival CarWale for an estimated $90-$100 million, a transaction primarily funded by its $145million equity financing round led by Temasek Holdings, the government of Singapore-owned investment company, US-based investment firm March Capital and Warburg Pincus.