Notable investors in this new round of financing include several Indonesian based funds including EV Growth. Carro will use the funds to strengthen its market position and expand its retail offering across Indonesia, Thailand, Malaysia, and Singapore, according to the press release. Carro will also enhance its portfolio of financial services by expanding beyond in-house loan financing, as well as accelerate development of its AI capabilities.
SoftBank Group first invested in Carro through SoftBank Ventures Asia, its venture capital arm, in 2016 and has continued to support Carro’s growth initiatives through the years.
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