Sandeep Agarwal, Founder of ShopClues and online marketplace for automobiles, Droom have announced the investment of Rs 20 Crore ($3 Million) in startups. The investment will be mainly focused on sectors like healthcare, retail and fintech besides enterprising tech and data science startup.
Prior to this, in 2016, Sandeep Agarwal has invested $500K in Indian as well as international startups such as Dekoruma, Wydr, Shopsity, Data Guise, Give Club, Duriana and Curo Healthcare. Now he will be looking to explore the South Asia Market.
In an interview, Sandeep Agarwal said: “In the last two years, I have been investing in a rather random and chaotic manner. This setting aside of capital as an investment amount is an evolution from that to a more streamlined exercise.”
He also stated “The current health and success of Droom owes a lot to the faith bestowed upon me by my early-stage investors and the funding received from them. As an early-stage entrepreneur, I often felt helpless myself at the lack of funding and mentorship during the most crucial phases of my business. I have always strived to provide young entrepreneurs with the necessary resources and guidance required to let them realise their vision. This year, too, will be no different and I will ensure in my personal capacity that no great idea is nipped in the bud due to lack of capital or the right guidance.”
Earlier this month, Mr Agarwal accused his wife of pushing him out of ShopClues and fraudulently stripping him of his voting rights in the company. Read more about Sandeep Agarwal alleges wife having illicit affair.
Droom is Gurgaon-Based startup,first online marketplace for the automobile industry to buy and sell used or new vehicles. They are very passionate about making the buying and selling experiences for automobiles very simple and anxiety free. Read more about Indian Startup Ecosystem.