Full-stack mobility startup Automovill bags US$ 500K in Bridge funding

Automovill, an Indian startup offering automotive and car repair offerings at a cost-effective price, has secured US$ 500K in a Bridge investment round led by Mumbai Angels on 20 July 2021.

Investors: The investment round featured Mumbai Angels as the lead investor with participation from existing investor Northeast Venture Fund. The startup has managed to raise approximately US$ 770K, in total, to date.

Purpose of the funding: The startup intends to deploy the proceeds from the financing round to support its product technology, grow in more domestic markets, and recruit mid-level executives to run the expanding business. It also seeks to utilize the funds in building the infrastructure of its current associate and core networks.

About Automovill

Established in 2016 by Chinmay Baruah, Mridu Mahendra Das and Ramana Sambu, Automovill offers a marketplace to bring all automobile service providers to one place. It links automobile owners to different varieties of automotive service offerers. Its tech-powered 360-degree technique allows positive user feedback and experience through faith, commitment and comfort. The firm currently operates in 12 cities with explicit retail clients in Bangalore, Delhi-NCR, Hyderabad, and Guwahati. It deals with roughly 2,000 cars monthly. Since its early days, the startup has serviced more than 1 lakh cars, including retail and B2B clients. It envisions reaching its goal of completing 1.5 lakh orders before the end of the coming fiscal year.

What the Founder has to say: “The advancements in the mobility domain and surging post-pandemic demand for private vehicles has been of advantage for Automovill. It has majorly stimulated an increase in our domestic user base. A proficient team, the introduction of technology in the automation process, quality services and rising retail customers, has positioned Automovill on the path to fulfil its expansion plans in the B2B and B2B2C sectors including auto insurance suppliers.”- Mridu Das, Co-Founder of Automovill.

What the Investors have to say: “Mobility is a rapidly-expanding sector with a market full of beans. Since its inception, Automovill has been offering flawless, tech-enabled products to its customers. The present investment is a testimony to the wonderful job it has carried out.”- Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels. “We are delighted to support Automovill in its initiative to expand and grow. It is the perfect model of entrepreneurial triumph and second to none.”- PVSLN Murty, CMD at Northeast Venture Fund.

For more extensive analysis and Market Intelligence reports, feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.

We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!

Next Article