India’s Spinny lines up $160M funding to acquire GoMechanic, sources say
Spinny, an Indian online marketplace for used cars, is raising around $160 million as it moves to acquire car services startup GoMechanic, TechCrunch has learned. The Series G round, which includes a mix of primary and secondary transactions, would value the 10-year-old startup at about $1.8 billion post-money, three people familiar with the matter said, broadly in line with its previous valuation. Nearly $90 million of the round is primary, people said; Existing investor Accel has already wired about $44 million of that amount, with some details of the investment appearing in regulatory filings in India this week, which Indian outlet Entrackr first reported. A new investor is participating in the remaining portion of the primary, but TechCrunch could not confirm its…
