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CarWale gets $7 million funding

CHENNAI: CarWale.com, a leading automotive Internet portal, announced the successful completion of a Series A round of financing. The $7 million investment was led by Sierra Ventures, a Silicon Valley-based venture capital firm. This funding will be used to fuel CarWale’s growth strategy including, expanding sales distribution, increasing marketing efforts, and continuing investment in product activities, says a release. — Corporate Reporter

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