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Truebil secured $1 mn from Spiral Ventures

Truebil, which is a Mumbai based user car marketplace, has now secured $1 million from the Japanese Venture Capital firm Spiral Ventures.

The funds will now be going to be used to strengthen its technology stack and marketing, according to the report revealed.

The company which is owned and operated via Paix Technology, and was founded by the Suraj Kalwani, Shubh Bansal, Ritesh Pandey, Shanu Vivek, Himanshu Singhal, and Ravi Chirania in the year 2015.

The company follows an integrated online and offline model for the buying and selling pre-owned cars and currently operates in the Delhi, Bangalore, and Mumbai.

The company as of now is doing INR 350 crore of the annual revenue run rate with an aim to grow 3X this fiscal, said the statement.

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