Malaysia’s used car portal CARSOME Group Inc announced that it has secured more than US$30 million (RM120 million) from a set of new and existing investors, including the Hong Kong Investment Corporation Limited (HKIC), Gobi Partners, and Asia Partners.
The company said the funds will be used to further accelerate its profitable growth in the region for the coming years. This investment and partnership reflect a shared ambition to strengthen connections between Southeast Asia and Greater China, leveraging Hong Kong’s role as a regional gateway for advanced automotive capabilities, technology development, and global talent. With the support from the HKIC, CARSOME said it will drive initiatives across areas such as supply chain sourcing and technology collaboration, accelerating the application of data and artificial intelligence (AI) in the automotive sector, which further empowers CARSOME for its regional expansion.
“CARSOME has spent the last several years focused on building a resilient, profitable business with strong fundamentals,” said Eric Cheng, CARSOME Group Co-founder and CEO. “This strategic collaboration and fundraise is a vote of confidence in our continued momentum and long-term vision. This partnership gives us crucial access to innovation capabilities, cross-border networks, and world-class talent that will support our work in AI, data, and next-generation mobility services across Southeast Asia.”
