The funds will be used to expand Spinny's market presence, enhance its full-stack offerings, and strengthen technology-driven solutions for used-car buyers and sellers.
The round was led by global and domestic investors, including Accion, Nuveen, Fundamentum, and existing investor Maj Invest, with Unitus Capital serving as the exclusive advisor to the transaction.
The Bengaluru-based startup plans to utilise the funds to expand the Sri Mandir app, build a robust technology stack for temples, introduce five new regional languages, and scale operations in India and international markets like the US, UK, and Canada.
The Noida-based platform plans to use the newly raised capital to explore strategic acquisitions, expand its distribution network in India, and strengthen its international operations in Southeast Asia.