Automobile Marketplace Droom Raises $200 Million, Valuation Vrooms To $1.2 Billion

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The round was raised from existing and new investors such as 57 Stars and Seven Train Ventures, the company said. Droom will use the funds to further expand into the top 100 cities and international markets as well as enhance its last-mile delivery. , Droom said it is on track to touch a gross merchandise value of GMV of $2 billion and clock net revenues of $65 million in calendar year 2021. Droom said it has seen massive digital adoption during the pandemic besides increasing preference among consumers for ownership of automobiles versus public transportation or ride-sharing.