The money raised will primarily be used to increase the current range of capital expenditures, as well as to strategically manage and streamline operations and expand the scope of their marketing.
Full-stack solution for mobility supplier Automobile raised INR 2.15 million in a pre-Series-A funding round led by Inflection Point Ventures. The funds raised will be used to increase the current range of capital expenditure, as well as to help strategically manage and smooth operations, as well as expand the scope of their marketing. This will include conducting ongoing studies on the potential to address the issues of servicing cars by providing an easy-to-use, transparent, and affordable service through an online platform, as well as aiding in the creation of orders, and creating jobs in direct and indirect ways in the industry, thus helping to grow the business of the company and 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 of Automobili.
With a flexible and hybrid company model that is flexible and hybrid, Automobile has the third most significant presence in India, with a customer base of more than 0.15 million customers. Currently, Automovill is present in 20 cities in India serving customers who are retail and pan India clients from used vehicle dealers, ride-hailing, and auto insurance firms through its network of over 200 shops, according to Automovill in its 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 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 service that is hassle-free and a customer-focused service to every car owner.