Droom, the new and used automobiles marketplace owned by Delhi-based Droom Technology, has rolled out an artificial intelligence (AI) powered solution, dubbed Tool Kit, to help consumers retrieve vehicle registration information and ascertain their commercial value with a single click of the number plate.
Droom aims to sell the AI solution to vehicle insurance companies and banks in addition to buyers and sellers on its platform.
In a recent interview with TechCircle, Droom founder Sandeep Aggarwal spoke about how the company is using AI, its upcoming pre-IPO round and the Lightbox-backed company’s overall operations.
The company claims an annualised GMV (gross merchandise value) of $1.2 billion and a growth rate of 100% year-on-year. It aims to clock $2 billion in GMV by the end of 2020 and list on Nasdaq next year.
In November 2019, the company acquired an NBFC Xeraphin to make used car loans available to buyers on its platform.