‘Google for cars’ start-up Carsnip bags $1m angel investment
Pre-launch UK car search engine is on track to raise an additional $5m to expand into 20 European countries
Carsnip, a car search engine dubbed ‘Google for cars', has raised $1m in funding ahead of its launch from a number of angel investors including Google's Adrian Aoun; i-CD publishing founder Alastair Crawford; and Charles Songhurst of Microsoft.
Fritz Lanman, co-founder of Doppler Labs; Hank Vigil from Microsoft; and Tim Jackson, founder of QXL Investments, also participated in the round.
Set to launch in May 2016 by Stuart Noad and Alastair Campbell – the founder of Company Check – Carsnip is a search engine that focuses solely on connecting car buyers and sellers and uses machine learning to deliver personalised results.
The platform aims to cut out the middleman and charges dealers to advertise their cars on a pay-per-click basis, rather than charging for individual listings.
This initial funding has enabled Carsnip to index more than 500,000 cars and build the “first version of its natural language search”.
The company claims to be on track to raise a further $5m, which it will use to improve its search capabilities and index 20 new European countries.
Carsnip co-founder and CEO Campbell said: “We’re extremely pleased to welcome our new investors on board.
“Many industries have already gone through their intelligent search revolution, combining big data and machine learning to optimise user experience (UX). The car industry is next.”
Investor Tim Jackson added:“Campbell is a stellar CEO who's already built a terrific business in Company Check. This is an even bigger market and I'm really excited to be backing him in transforming it.”