Used car retailing platform Spinny on Thursday said it has acquired Ahmedabad-based artificial intelligence-powered connected car startup Scouto, for an undisclosed sum.
Founded by ex-racecar driver Akshay Gupta and Shubham Sharma, Scouto claims to offer a connected car technology suite that gives information on a car's health and performance.
The company is focused on the consumer car industry and caters to various Indian startups across automotive aftermarket and used car space.
“As part of the acquisition, Scouto’s founders will become an integral part of Spinny and help build and drive our connected car offerings forward. We are very excited about the integration and the synergies of Scouto with Spinny," said Niraj Singh, Founder and CEO of Spinny.
The Gurugram-headquartered Spinny was founded in 2015 by Singh, Mohit Gupta and Ramanshu Mahuar. It claims to operates across the entire value chain of pre-owned cars and has 15 car hubs that operate across eight cities such as Delhi-NCR, Bengaluru, Mumbai, Pune, Hyderabad, Chennai, Kolkata, and Ahmedabad.
Last year in December, Spinny raised $283 million (Rs 2,120 crore) in its series E funding round. Notably, former Indian cricketer, Sachin Tendulkar invested an undisclosed amount in the same month. He is also the lead brand ambassador of the platform.
In November 2021, the company raised Rs 1,863 crore ($248.6 million) as part of its Series E round, making it the 39th unicorn, or a company valued at $1 billion or more.
