In the ever-evolving landscape of the Indian automotive industry, Droom has emerged as a game-changer. Established in 2014, Droom is an Indian startup that has revolutionized the way people buy and sell automobiles. With a mission to make motor vehicles accessible to all and a vision to create an efficient, transparent, and trustworthy automobile ecosystem, Droom has become a leading player in the market.
|Gurugram, Haryana, India
|Sandeep Aggarwal, Rishab Malik, and Rishab Malik
|Buying and selling of new and used vehicles
|Vehicle certification services
|Loan and insurance services
|Auto inspection and verification
|Raised over $125 million in funding from various investors
|Available for Android and iOS devices
|Transparent pricing and listing information
|Wide range of vehicle categories
|Buyer and seller protection policies
|Third-party vehicle inspections and certifications
|Integrated loan and insurance services
|Multiple payment options
|Pan-India presence with a network of sellers and dealerships
Mission and Vision:
Droom’s mission is to make transportation in India efficient, affordable, and accessible by leveraging technology and innovation. The company envisions creating an ecosystem that offers convenience, trust, and transparency to buyers and sellers, thereby transforming the way automobiles are bought and sold.
Key Products and Services:
Droom offers a range of products and services that cater to the diverse needs of the automotive industry. Their key offerings include:
Online Marketplace: Droom provides a comprehensive online marketplace where individuals and dealers can buy and sell new and used vehicles. The platform offers a wide selection of cars, motorcycles, scooters, and bicycles, allowing customers to make informed decisions based on detailed vehicle history reports and pricing guidance.
Vehicle Certification Services: Droom ensures transparency and trust by offering vehicle certification services. They provide detailed inspection reports and certification for used vehicles, enabling buyers to make confident purchases.
Loan and Insurance Assistance: Droom offers assistance with loan and insurance options, simplifying the buying process for customers. They have partnerships with leading financial institutions and insurance providers to provide competitive rates and hassle-free services.
Pricing Tools: Droom’s pricing tools enable buyers and sellers to determine fair market prices for vehicles. These tools utilize artificial intelligence and machine learning algorithms to analyze various factors, such as vehicle condition, demand, and market trends.
Unique Value Proposition:
Droom’s unique value proposition lies in its focus on transparency, convenience, and trust. By leveraging technology, data analytics, and innovative solutions, Droom has created an ecosystem that simplifies the buying and selling process, ensuring fair pricing, comprehensive vehicle history reports, and reliable certification.
Droom caters to a wide range of customers, including individuals and dealers, who are looking to buy or sell vehicles. Their target market comprises both urban and rural areas, as they aim to make automobile ownership accessible to people across the country.
Droom’s relentless pursuit of innovation and customer-centric approach has resulted in several notable achievements. Some of their key milestones include:
Rapid Growth: Since its inception, Droom has experienced remarkable growth, expanding its presence to over 1,000 cities in India. Their platform has facilitated the sale of millions of vehicles, making them one of the largest online marketplaces in the country.
Awards and Recognition: Droom has received numerous awards and accolades for its innovative approach and contribution to the automotive industry. They have been recognized as a top disruptor in the startup ecosystem and have received prestigious industry awards for their excellence in technology and entrepreneurship.
Strategic Partnerships: Droom has forged strategic partnerships with leading automobile manufacturers, financial institutions, insurance providers, and service providers. These collaborations have enabled Droom to enhance its offerings and provide additional value to its customers.
Founding Story, Team, and Company Culture:
Droom was founded in 2014 by Sandeep Aggarwal, an experienced entrepreneur with a vision to transform the automotive industry in India. With a team of industry veterans and technology enthusiasts, Droom embarked on a mission to disrupt the traditional buying and selling processes.
The company culture at Droom revolves around innovation, transparency, and customer-centricity. The team fosters a culture of continuous learning and embraces new technologies to stay ahead of the curve. Droom’s work environment encourages collaboration, creativity, and a passion for creating positive change in the industry.
Growth Trajectory, Funding, and Partnerships:
Droom’s growth trajectory has been remarkable. Through continuous innovation and customer-focused strategies, the company has achieved significant milestones and witnessed substantial revenue growth. Their expansion to new markets, increasing customer base, and strategic partnerships have contributed to their success.
Droom has secured substantial funding from prominent investors, including venture capital firms and strategic investors. These investments have fueled the company’s growth and allowed them to develop cutting-edge technology, expand their team, and further enhance their product offerings.
Future Plans and Industry Impact:
Droom is poised to make a significant impact in the Indian automotive industry. They plan to leverage emerging technologies, such as artificial intelligence, machine learning, and blockchain, to further streamline the buying and selling processes. Additionally, Droom aims to expand their reach to untapped markets and enhance their service offerings to cater to evolving customer needs.
As the automotive industry in India undergoes a digital transformation, Droom’s innovative solutions, commitment to transparency, and customer-centric approach position them as a frontrunner in revolutionizing the industry. With their disruptive business model and unwavering focus on technological advancements, Droom is set to reshape the way Indians buy and sell automobiles, making transportation more accessible and efficient for all.
What is Droom?
Droom is India’s largest online marketplace for buying and selling new and used automobiles. It provides a platform for users to buy and sell cars, bikes, scooters, and other vehicles.
How does Droom work?
Droom connects buyers and sellers by providing an online platform where users can list their vehicles for sale or browse through listings to find their desired vehicle. Buyers and sellers can communicate directly through the platform to negotiate and finalize the transaction.
Is Droom only available in India?
Yes, Droom primarily operates in India and caters to the Indian market. However, it may expand its services to other countries in the future.
What types of vehicles can be bought and sold on Droom?
Droom allows users to buy and sell a wide range of vehicles, including cars, motorcycles, scooters, bicycles, electric vehicles, and even planes. It supports both new and used vehicles.
How can I sell my vehicle on Droom?
To sell your vehicle on Droom, you need to create a seller account, provide detailed information about your vehicle, upload pictures, and set a price. Interested buyers can contact you through the platform, and you can negotiate and finalize the sale.
Is Droom responsible for the condition of the vehicles sold on its platform?
Droom acts as a marketplace and does not take responsibility for the condition or quality of the vehicles listed on its platform. It is the buyer’s responsibility to inspect the vehicle, verify its condition, and negotiate the terms with the seller.
Can I get financing options for buying a vehicle on Droom?
Yes, Droom offers financing options through its partnerships with various banks and financial institutions. Buyers can explore these options to finance their vehicle purchases.
Does Droom provide any warranty or guarantee for the vehicles?
Droom offers a warranty program called “Droom Certified” for used vehicles. These vehicles go through a thorough inspection process and come with a warranty period, providing buyers with added assurance.
How does Droom ensure the reliability of sellers and prevent fraud?
Droom has a verification process for sellers, which includes verifying their contact details and identity. Additionally, user reviews and ratings help in assessing the reliability of sellers. However, buyers are advised to use caution, conduct due diligence, and verify the authenticity of listings before making a purchase.
What are the fees or charges associated with using Droom?
Droom charges a nominal fee for sellers to list their vehicles on the platform. The exact fees may vary depending on the type of listing and additional services availed by the seller. Buyers do not have to pay any fees to use Droom.