With the FOMO-driven funding frenzy dying after the Covid-19 pandemic and sustainability emerging as the sole secret of survival, the Indian startup ecosystem is at a critical crossroads. But despite the funding winter and global headwinds, many startups have navigated the crisis well due to their dynamic business models and an unwavering focus on profitability.

The CarDekho group is a case in point.

Operating under the parent company GirnarSoft, its core business CarDekho.com, an online marketplace for new and used cars and bikes, implemented a host of strategic measures in FY23. For instance, the platform discontinued its franchise-led used-car retail business and the customer-to-dealer car sales vertical, focussed on car and bike financing (via Rupyy) and insurance (InsuranceDekho), and built on its auto and financing businesses in Southeast Asia. The outcome: Improved unit economics, a 1.5x rise in consolidated operating revenue and reduced losses after adjustments.

The group’s constant push to achieve ‘more’ is bound to impress all. It runs a whole stack of companies, including PriceDekho, BikeDekho, TyreDekho, BatteryDekho, and more, to serve all stakeholders (buyers, sellers, and dealers). Its latest acquisition is Revv, a shared car rental platform, marked CarDekho’s entry into the shared mobility space.

If this dynamism and determination wow you, so will the founder.

Amit Jain, the driving force behind the IPO-bound unicorn, dons many hats and pursued a startup journey from a Tier II city that only a few have undertaken successfully. His role as a mentor to early-stage founders, a Shark Tank India judge, and an angel investor on that platform has gained him widespread recognition across the startup ecosystem.

Jain’s backstory reflects the same grit that his business does. A Jaipur lad and an alumnus of IIT-Delhi, he worked as a software engineer in the US until 2006. But he and his brother Anurag had to leave their jobs and return home due to a medical emergency in the family.

Not one to give up on his enthusiasm for startups and entrepreneurship, the brothers launched an IT outsourcing firm called GirnarSoft (now the parent company of the CarDekho group). Amit is now the group CEO and Anurag is the COO of Girnarsoft.

Asked what the trigger was behind starting a hardcore tech business (and then expanding to consumer tech), Jain revealed what had driven him all along. “As a tech enthusiast, my love for coding gave me a nuanced understanding of the challenges we face today. It motivated me to start a dedicated pursuit of tech-driven solutions to enhance people’s lives,” he told Inc42.

Jain’s early bet on a Tier II city not only fuelled CarDekho’s initial growth but also cemented his reputation as a visionary leader who inspired a generation of founders seeking opportunities beyond the glittering metros.

So what does he envision about CarDekho? How has been the near-two-decade-long entrepreneurial journey? And what’s the kind of spark investors like him love to see in entrepreneurs pitching to raise funding?

In a one-on-one with Jain, Inc42 has explored all these and more that will help young founders pick the right path. Here are the edited excerpts from the interview.

Inc42:........

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