Broom lands USD 25 million in Series A+ round
Broom, an Indonesia-based startup shaking up the used car market, has landed USD 25 million in a Series A+ funding round led by Openspace, with support from AC Ventures, Quona Capital, MUFG Innovation Partners, and PKSHA Capital. The startup also secured credit facilities from players like Komunal, Modalku (Funding Societies), Alami, and DBS Indonesia.
Broom is zeroing in on three key challenges that have long plagued the traditional automotive industry: car supply, stock turnover, and sales. For instance, its “Buyback” product gives financially strained dealers a lifeline by allowing them to temporarily sell off vehicle stock for working capital.
With this fresh funding, Broom plans to expand its reach across Indonesia, deepen partnerships with key industry players, and build out its team to fuel further growth. The company is positioning itself to become a major player in transforming the used car market by tackling inefficiencies that have slowed down dealers for years.
Mitsui invests in Numa’s USD 32 million Series B round
Mitsui & Co has thrown its weight behind US-based startup Numa, investing in the company’s USD 32 million Series B funding round.
Numa’s artificial intelligence-powered platform is aimed at redefining how car dealerships operate, automating everything from handling missed calls to scheduling service appointments, and driving serious efficiency gains for dealers.
With the fresh funding, Numa plans to ramp up its AI engineering team, push deeper into the market, and keep building on the momentum it’s gained in transforming dealership workflows.
Latest funding deals in India:
- Troo Good, a millet-based snack brand, has raised INR 720 million (USD 8.6 million) in a funding round led by Oaks Asset Management. Puro Wellness and V Ocean Investments also participated. The company plans to utilize the funds to meet its working capital requirements. —Entrackr
- WayCool, an agrifood supply chain firm, has secured INR 1 billion (USD 11.9 million) in debt financing from Grand Anicut. The company will use the funds for ongoing business operations. —Entrackr
- Vedantu, a Bengaluru-based edtech company, has raised INR 192.5 million (USD 2.3 million) from Stride Ventures. This capital is expected to extend the company’s runway as it navigates through a challenging period. —Entrackr
- Curefoods, a cloud kitchen startup from Bengaluru, has secured INR 800 million (USD 9.5 million) in debt financing from Binny Bansal and Jitender Kumar Bansal. Curefoods plans to expand its business and grow its food tech operations. —Entrackr
- Giva, an omnichannel jewelry startup, has raised INR 1 billion in a Series B extension round from Premji Invest. Giva will use the funds to further scale its product offerings and operations. —Entrackr
HungryPanda, TeamSolve, OpenAI, and more led recent headlines:
- HungryPanda, the go-to app for Asian food lovers living abroad, wrapped up a USD 55 million refinancing and fundraise led by Mars Growth Capital. Familiar faces like Perwyn, Kinnevik, 83North, and Felix returned to back the company.
- TeamSolve, an emerging player in the AI sector, snagged USD 2.5 million in seed funding, with SGInnovate and Burnt Island Ventures co-leading the round.
- OpenAI received a USD 500 million investment from SoftBank’s Vision Fund as part of its USD 6.5 billion convertible note raise.
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