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Prakhar SharmaTop Contributor
Social media marketer, Content Writer
Asked a question last year

What is spinny? Is it a Startup?

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Prakhar SharmaTop Contributor
Social media marketer, Content Writer

Well yes it is Gurugram Based Startup.

Gurugram-based Spinny, a startup in the used car space, has raised $13.2 million in Series A funding round led by Accel and SAIF Partners with participation from existing investors Blume Ventures and Simile Ventures. Raghunandan G (Co-Founder & ex-CEO Taxi For Sure) and Haresh Chawla (Partner at True North PE firm) also joined the round in their personal capacity. Venture debt fund Alteria Capital also participated in this round. The company will utilise the raised funds for strengthening the team across functions, improving inventory assortment, and expanding Spinnyโ€™s coverage to newer locations. As part of the funding deal, Anand Daniel (Partner with Accel) and Mukul Arora (Managing Director of SAIF Partners) will join the company's board of directors. Niraj Singh, the Founder and CEO of Spinny, said,

Founded by Niraj Singh, Mohit Gupta, and Ramanshu Mahaur in 2015, Spinny is currently active in Delhi NCR and has three car hubs, one each in Delhi, Gurgaon, and Noida. The startup is planning to open at least five more hubs by end of the year. Spinny, which earlier operated as a C2C listing platform, now operates on a full-stack dealership model, using technology to source and maintain the right inventory to offer the best quality cars to its customers. Buyers can thus choose from a wide pool of non-accidental, non-meter-tampered, thoroughly inspected, high-quality cars, the company said.

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