Singapore's Carro raises $60 million to promote Japanese cars in Asia

Group 1 - Carro, Southeast Asia's largest used-car online marketplace, has raised $60 million in a funding round led by Japan's Cool Japan Fund to promote Japanese cars in the Asia-Pacific region [1][3] - The company is planning to expand into Australia and is considering a dual listing, with a potential U.S. initial public offering valued at over $3 billion [2][3] - Carro operates a digital platform for buying and selling vehicles, offering additional services such as insurance and financing, and is backed by investors including Temasek and SoftBank Group [3] Group 2 - The investment from Cool Japan Fund aims to increase overseas demand for Japanese products and services, particularly in the automotive sector [3] - Carro has a presence in multiple markets including Singapore, Malaysia, Indonesia, Thailand, Japan, Taiwan, and Hong Kong [2] - If Carro proceeds with its U.S. IPO, it would be the largest Southeast Asian listing in the U.S. since SEA's debut in 2017 [2]