Automovill Raises INR 2.15 Crore in Pre-Series A Funding The fund raised will primarily be used to expand the current scope of capital expenditure, and to strategically channel and smoothen operations as well as broaden their marketing scope
By Teena Jose
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Full-stack mobility solution provider Automovill has raised INR 2.15 crore in pre-Series A funding round led by Inflection Point Ventures. The fund raised will primarily be used to expand the current scope of capital expenditure, and to strategically channel and smoothen operations as well as broaden their marketing scope. This includes carrying out ongoing research on potential abilities to fix the challenges of car servicing by introducing a hassle-free, open, and affordable solution via a technological platform as well as assisting in the accumulation of orders and creating direct and indirect jobs within the ecosystem, thereby contributing to the growth of its partners.
"The team has quickly picked up our business model and presented a very comprehensive analysis and data collection for Automovill. It reflected the perfect impression of Automovill. Everything was done in no time and hence the overwhelming response from the investors in IPV," said Mridu Mahendra Das, co-founder and CEO, Automovill.
Following a hybrid and flexible business model, Automovill has the third largest presence across India, while catering to over 0.15 million customers. Currently, Automovill is present in 20 cities of India catering to retail customers and pan India clients from used car sellers, ride-hailing, and auto insurance companies through its network of more than 200 workshops, claimed by the company in a statement.
"Maintaining cars by using dealers' service centres is an extravaganza while customers don't feel safe leaving their cars with the local garage as it can lead to more problems than solutions. Automovill is tapping into this market which is highly expensive on one end and totally unorganized on the other. Our interest in the company comes from the fact that it is a hugely untapped market with only a few organized players, and we are confident that with the disruptive and tech-enabled strategy of Automovill, we will see them growing faster than its peers at pan India level," said Mitesh Shah, co-founder, Inflection Point Ventures.
Founded in 2015 by Mridu Mahendra Das, Chinmay Baruah, and later joined by Ramana Sambu, , Automovill Technologies offers a cost-effective, hassle-free, and customer-oriented service for every car owner.
