Full-stack solution for mobility company Automovill was able to raise INR 2.15 million in a pre-Series A financing round, which Inflection Point Ventures led. The money raised will be used to extend the scope of current capital expenditure, as well as to help strategically manage and smooth operations and expand the size of their marketing. This will include conducting ongoing studies on possible ways to address the issues of servicing vehicles by offering an easy, accessible, and cost-effective solution through an electronic platform, assisting with the creation of orders, and creating indirect and direct jobs in the industry, thus helping to grow the business of its partner.
“The team has quickly picked up our business model and presented a comprehensive analysis and data collection for Automobile. It reflected the perfect impression of Automobile. Everything was done in no time and hence the overwhelming response from the investors in IPV,” said Mridu Mahendra Das, co-founder and CEO of Automobili.
Based on a hybrid and flexible structure, Automobile has the third most significant presence in India, with a customer base of more than 0.15 million clients. Currently, Automovill is present in 20 cities in India, serving retail customers and pan India clients from used vehicle dealers, ride-hailing, and auto insurance firms through its extensive network of more than 200 shops, according to Automovill in an announcement.
“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 of Inflection Point Ventures.
Established in 2015 with Mridu Mahendra Das and Chinmay Baruah, then joined later by Ramana Sambu, Automovill Technologies offers a cost-effective, easy, quick, and friendly service to every car owner.
