Truebil

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Truebil is a Mumbai-based online marketplace for buying and selling used cars in India, with a retail arm called Truebil Direct that sells refurbished vehicles. Launched in 2015, the platform operates in four cities: Mumbai, Delhi, Bangalore, and Hyderabad.

The service aims to simplify the used-car journey. It uses artificial intelligence to help price cars based on their condition, location, and seasonal factors. Truebil offers valuation, sell guarantees, and assistance with paperwork, loans, and insurance. It also lets customers buy refurbished cars from Truebil’s offline stores, which handle ownership transfer and financing.

Truebil was founded in 2015 by seven former IIT students led by CEO Suraj Kalwani: Suraj Kalwani, Ravi Chirania, Shubh Bansal, Rakesh Raman, Ritesh Pandey, Shanu Vivek, and Himanshu Singhal. The company expanded to four cities and grew its marketplace to include a wide range of used and refurbished cars.

Funding and milestones include a Series A in 2016 of about Rs 35 crore from Kalaari Capital, Inventus Capital, and Tekton Ventures (after initial support from Kae Capital and Anupam Mittal). It later attracted $3 million from Shunwei Capital in 2017, crossed Rs 100 crore in annual revenue run rate by March 2018, and secured around $14 million in a 2019 round led by a Japanese investor (Spiral Ventures), with an additional $1 million raised in September 2019. Truebil’s goal is to transform India’s used-car market with AI-powered pricing and end-to-end services.