Droom launches Eco Lab enables it with IOT cloud and large fleet management service

by Samiksha

New Delhi : Adding yet another remarkable facility to evolve their offerings, Droom, India’s largest and pioneering online automobile transactional marketplace, has launched Eco Lab. Enabling the Eco Lab with IoT cloud and large fleet management services, Droom aims at leveraging emerging technologies to build new innovations in and evolve Eco Inspection, India’s premier doorstep auto inspection service for pre-owned vehicles. Built on Droom’s proprietary auto inspection methodology, Eco Inspection provides a scientific, comprehensive, and unbiased report with over 1000+ checkpoints. This ensures that buyers can get an all-inclusive report of the vehicles they choose to buy at a very low price. Considering the all-encompassing and buyer-centric approach that Droom is known for, Eco Lab marks yet another milestone in the highly-evolved automobile ecosystem that the company has achieved.

At the Eco lab, Droom is constantly evolving and bringing forth newer innovations in Eco Inspection using AI technology, along with leveraging OBD devices for an extensive car health check up. With more than 5000 auto inspection technicians, referred to as ‘Eco Ninjas’, onboard at present, Eco Inspection has been a massive successful marking 90,000+ auto inspections across 800+ cities till date. Keeping its promise of providing the best of the best professionals for consistent quality maintenance and customer satisfaction, Droom has been carrying out extensive verification and background check processes before certifying a professional. Moreover, once onboard, these Eco Ninjas undergo rigorous classroom and on-ground training and adaptive tests for 10-15 days at the newly-established Eco Lab. Through such an all-encompassing on-boarding processes, Droom ensures that only the best of professionals go forth to deliver an enhanced customer experience. Considering the soaring popularity of Eco Inspection, Droom aims at achieving a target of over 7, 50,000 inspections by the end of 2019.

Sharing his insight behind the launch of Eco Lab, Rupendra Singh, Vice President, Certification Services, Droom remarked, “Since its very inception, Droom has always strived to deliver the best solutions around the entire ecosystem of automobiles. After setting up the AI Lab to evolve OBV and build newer state-of-the-art tools, we wanted to leverage the technologies to innovate our Eco Inspection tool further. Being a customer-centric brand, we aim at completely ridding our customers from the stress of having to deal with unknowns while buying a pre-owned automobile. This is what led to the inception and launch of Eco Lab. From leveraging IOT cloud to access engine health to enabling large fleet management service and bringing the best of professionals on board, Droom aims at making Eco Inspection the de-facto industry standard for used vehicle inspection.”

Droom is the largest hyperlocal market and the third largest e-commerce company in India in terms of GMV at present. Furthermore, through its in-built data-science driven technological tools, the company has been catering to the entire digital ecosystem around the sale of both new as well as pre-owned automobiles. Setting up the Eco Lab to evolve its Eco Inspection tool marks yet another remarkable step towards Droom’s journey of establishing itself as one of the most innovative automotive and e-commerce organizations in India and across the globe.

About Eco: Eco is India’s most scientific, comprehensive and unbiased way to get a doorstep auto inspection/Verification for a used vehicle with 1000 checkpoints so that the buyer does not have to deal with too many unknowns. The Eco auto inspection service is built on Droom’s proprietary auto inspection methodology. one can buy peace of mind at a very low price, and never have to deal with unknowns while buying a used vehicle. Eco is available at Droom.in, at www.ecoinspection.in and as Android app.

About Droom: Droom is the 3rd largest E-commerce company in India in terms of GMV and the largest online auto marketplace for buying and selling new and used automobiles with over 80% market share of the automobile transactions online.

Droom is headquartered in Gurugram, India, with a team size of 480+. Droom has four marketplace formats i.e. B2C, C2C, C2B and B2B, and three pricing formats - Fixed Price, Best Offer and Auction. The platform offers a wide range of categories from bicycle to plane and all automobile services such as warranty, RSA, insurance and auto loan.

Droom has in-built tech and data science tools to create the entire eco-system around used automobiles, including OBV (pricing engine), Eco (1,000+ points vehicle inspection), History (200 million vehicle history records), Discovery (dozens of pre-buying tools) and Credit (India’s first and only marketplace for used vehicles’ loans). The company is currently generating $1.2 Billion in annualized GMV and growing at a rate of 150% Y/Y. Droom has a presence in 830+ cities across India (India’s largest hyper-local marketplace), 300K+ auto dealers (largest auto dealer platform in World), 55 Million+ monthly visitors, nearly 12 Million+ app downloads and 6.5 Million+ Facebook followers.

Droom is a Singapore Holding Company with subsidiaries in India and the United States. The company has so far raised close to $125 Million dollars over six rounds of funding. Some of the prominent investors are Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, Integrated Assets Management and Family office of Japanese based investor Joe Hirao, Founder ZIGExN.