New Delhi, Dec 16 (PTI) Multi-channel automotive platform CarTrade Tech Ltd on Thursday said it plans to deploy up to USD 100 million (around Rs 750 crore) to acquire and invest in companies in the automotive space.

It is eyeing companies offering differentiated services and technology in the automotive segment which will help the group digitise the buying and selling journey of vehicles, CarTrade said in a statement.

Also Read | PUBG: New State Surpasses 45 Million Downloads Globally, New Update Announced.

"We want to completely digitise the process of buying and selling vehicles and continue to be a key enabler in the growth of the auto ecosystem," CarTrade Tech founder and Chairman Vinay Sanghi said.

To facilitate this, he added,"We are looking to deploy up to USD 100 million for acquiring and investing into companies that are driving innovation in the auto ecosystem, so that we can offer the consumer a great online auto shopping and ownership experience."

Also Read | Huawei P50 Pocket To Feature 50MP Triple Rear Cameras & a Foldable Screen, Check Full Specifications Here.

CarTrade Tech said it is actively looking for companies in all aspects of the automobile ecosystem, including auto finance, leasing, insurance, servicing, car ownership, electric vehicles and new age tech.

In the past few years, the company acquired CarWale, an online platform for new and used car buying; Shriram Automall (SAMIL), which is into auto auction space; BikeWale, an online buying platform; and Adroit Auto, which is into auto inspections and valuations.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)