Mobility solution provider Automovill has raised Rs 2.15 crore in a Pre-Series A round led by Inflection Point Ventures.
The company will use the fund for capital expenditure as it works on its marketing, products, and technology.
“India is one of the largest automobile markets in the world. We have almost all the auto brands from affordable to luxury cars being sold in India. However, the post-sales and service journey is quite broken at multiple stages. 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,” said Mitesh Shah, co-founder, Inflection Point Ventures.
“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 Shah.
Automovill, which was founded in 2015, said it offers cost-effective and hassle-free services for car owners. The company is present in 20 cities catering to retail customers and clients from used car sellers, ride-hailing, and auto insurance companies through its network of over 200 workshops. Automovill said it is the third largest in its business in India, catering to 150,000 customers.
“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 chief executive officer of Automovill.