CarWale Draws Venture Capital Funding from Sierra Ventures

CarWale.com announced the successful completion of a Series A round of financing.  The investment was led by Sierra Ventures.  This funding will be used to fuel CarWale's growth strategy including, expanding sales distribution, increasing marketing efforts, and continuing investment in product activities.  Tim Guleri and Vispi Daver of Sierra Ventures will join the company's Board of Directors.  CarWale had earlier received seed stage funding from India's leading early stage fund Seedfund. Mr. Pravin Gandhi, Managing Partner Seedfund, represents the firm on the company's Board. Mr. Gandhi earlier founded India's first IT Company and has been part of the investment team behind companies like Indiabulls and Indiagames. CarWale offers a complete consumer focused service that includes content and tools for exhaustive research, pricing and marketplace information. As consumers research and make purchase decisions, CarWale connects them with automotive manufacturers, finance and insurance companies, allowing them to make the best decisions for their automotive purchases.