Arun Sahlam, Co-Founder and Chief Technology Officer (CTO) of CarWale.com (Automotive Exchange Pvt Ltd) has resigned from the company and is working on his own venture. Confirming the news to India Digital Review, Sahlam said that he has been working on a healthcare services portal HealthKonnect.com, which is expected to be launched by next month.
Sahlam also informed us that he is culling out his stake in the company as the company norms (post India Today Acquisition) required a particular lock-in period for the co-founders to be involved with the company and he has resigned before that period. Axel Springer and India Today Group acquired CarWale in November 2010.
CarWale was founded in 2005 with the backing of Seedfund. In 2008, CarWale completed a Series A round of funding with Sierra Ventures, a silicon valley-based venture capital firm with $1.5bn under management. All the early angel investors had exited CarWale post Axel Springer and India Today Group acquisition.
Meanwhile, Sahlam is joined by a college friend for HealthKonnect.com and the duo is currently looking out for office space for the company HealthKonnect will be a self-funded venture and Sahlam will be looking out for funds. “In my seven years of being an internet professional, I have identified quite a few gaps in the healthcare industry in India and am trying to connect those dots with HealthKonnect,” Sahlam informed.
