Cars24 commits $20M to AI overhaul
By Abha Lohia ·
Cars24: revenue, valuation and funding and every story →
- Cars24 is an Indian used-car platform that buys, sells and finances pre-owned vehicles across several countries
- Founder Vikram Chopra is putting $20 million into artificial intelligence to simplify operations, lift productivity and speed up global expansion
- The push follows its first quarter of positive adjusted EBIT (operating profit) in Q4 FY26, and he favours long-term growth over a fixed IPO date
What happened
- Cars24 plans a $20 million investment in AI.
- The goal is simpler operations and higher productivity.
- Chopra also wants faster global expansion.
- He aims for a decade's worth of growth in one year.
Why it matters
- AI is meant to cut complexity inside the business.
- The company has turned EBIT-positive on an adjusted basis.
- Leadership is choosing growth over a fixed IPO timeline.
The business
- Cars24 runs a used-car platform.
- It operates in several countries.
The founders
In numbers
$20MAI investment · 2026
What happens next
- Possible IPO, without a fixed date.
Words to know
- EBIT
- Earnings before interest and tax, a measure of operating profit.
Terms in this story
- IPO: An IPO, or initial public offering, is the first time a company sells its shares to the general public and gets listed on a stock exchange. In India the process is supervised by SEBI and ends with the shares trading on the NSE and BSE.
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