CarDekho parent buys virtual reality firm Drishya360s
Jaipur-based Girnar Software Pvt Ltd, the company behind auto portal CarDekho and BikeDekho, has acqui-hired augmented reality startup Drishya360s for an undisclosed amount.
The acqui-hire allows Girnar Soft to build virtual reality solutions for its various consumer-facing businesses. The Drishya360s team will also assist Girnar Soft in developing online and offline advertising solutions, Girnar Soft said in a press statement.
Acqui-hiring refers to the buyout of a company primarily for the skills and expertise of its staff and not for its core offerings.
Drishya360s, which provides services around premier photography, video production, augmented and virtual reality, web-designing and hosting services, is Girnar Soft's fourth acquisition in the last 18 months.
Drishya360s was founded by Shashanka Adiga in 2010, who will henceforth report to Girnar Soft's director - strategy Rahul Yadav.
"The acquisition of Drishya360s is a step in our long-term growth strategy and enables us to develop interactive virtual reality solutions for our portals," Yadav said.
Girnar Soft, founded in 2007 by siblings Amit and Anurag Jain, owns CarDekho.com, Gaadi.com, Zigwheels.com, BikeDekho.com TyreDekho.com and BuyingIQ.
The company also provides website and mobile application development, testing and software product development services.
About a year ago, Girnar Soft had raised $50 million (around Rs 307 crore then) from Chinese investment management firm Hillhouse Capital and Hong Kong-based hedge fund Tybourne Capital with participation from existing investor Sequoia Capital. The investment was done at a $300 million post-money valuation.
In February, Tata Sons chairman emeritus Ratan Tata invested an undisclosed amount in the company.