Mobility

Last year online travel booking companies were reeling under an increase in ticket cancellations for both national and international travels.

The company currently operates in the US cities of San Diego and Tucson.

The investment marks Jungle Ventures’ first foray into the mobility sector, a vast emerging market in Southeast Asia that awaits the maturity of battery-charging infrastructure.

The company already has autonomous vehicles operating in several US cities, and plans to expand the fleet in next few years.

DJI is the latest Chinese company to join the EV frenzy, with some speculating it will provide auto companies with autonomous driving solutions.

Unfazed by the competition, Bhasin said the company’s auto sector is the most-visited auto classifieds platform in the region.

The firm plans to roll out driverless mobility services for passengers in the US.

CarTrade is gearing up to list its shares this year to raise INR 20 billion.