Sachin Tendulkar invests in used car platform Spinny

Used car retailing platform Spinny on Tuesday announced its partnership with Indian sporting legend Sachin Tendulkar.

Tendulkar is a strategic investor in the company, as well as lead brand endorser.

"Our country is becoming younger and our ambitions bigger. Entrepreneurs of today are creating solutions that cater to this ambition. I am very happy to be associated with Spinny - a team which aspires to create solutions the right way. The team has adopted timeless values to achieve excellence in their business - trust, transparency, and integrity," Tendulkar said in a statement.

Welcoming Tendulkar as an investor, Niraj Singh (Founder & CEO) said, "His life and journey stand as a beacon for the values of tenacity and determination in the face of challenges. We strive to instil these abilities in everything we do and Spinny's outlook to solve real customer problems. Having him onboard with Spinny is absolutely heart-warming, and we are proud to welcome our newest captain of Squad Spinny, Sachin Ramesh Tendulkar."

Recently, Spinny announced the closure of a $283 million funding from new and existing investors, taking its valuation to $1.8 billion and becoming another unicorn in 2021.

The company said the raised capital would be utilised to bolster the customer experience, strengthen technology and product capabilities and build teams across functions.

The Series E round was led by Abu Dhabi-based ADQ, Tiger Global and Avenir Growth, along with participation from existing investors Feroz Dewan's Arena Holdings and Think Investments, the company noted in a statement.