Motozite, IIM Lucknow-incubated startup, raised an undisclosed amount in the pre-Seed funding round from We Founder Circle on 28 December 2021.
Investor: We Founder Circle is a global community of successful founders & strategic angels who want to actively collaborate with early-stage startups to help them grow fast by offering seed funding, business development and global networking. We Founder Circle invests between USD 50,000 to USD 150,000. Earlier this month, We Founder Circle invested in SaaS (software-as-a-service)-based gaming tournament discovery platform EsportsXo, electric vehicle (EV) startup Oben EV and insurance technology (insurtech) platform, HealthySure.
The Objectives behind the funding: The company plans to deploy the current proceeds to enhance customer acquisition and technology development to bring forth a model integrating all industry stakeholders under one platform. It is planning to add options like digital documentation and digital payment.
About Motozite
Founded in 2021 by Abhinav Verma and Rahul Tiwari, Motozite offers a specially curated inventory of pre-owned luxury cars that includes a wide range of certified cars, which are thoroughly inspected, non-meter tempered, and non-accidental, through our trusted and authorised OEM dealer partners. With a large inventory of OEM authorised dealers, Motozite invites customers to view, select, take a test drive, and buy the luxury car. Motozite’s strength lies in its team and its vision for the company. Motozite’s founding team has a combined experience of 40 years in the automotive, technology and management consulting industry.
What the Founder has to say:
“We are proud and at the same time super excited to be associated with We Founder Circle. Being just a few months old startup, we see WFC as a perfect launchpad for our startup,” said Abhinav Verma, Co-Founder of automobile startup Motozite. “We are sure that our association with We Founder Circle will not only help us in scaling our operations but also in gaining strategic alliances that are essential for our growth. The three most important variables for market success are trust, transparency, and convenience, all of which are lacking in the unorganised sector, and we will fulfil the same with our digital approach.”
What the Investor has to say:
“The luxury car market is at the right stage to be disrupted. The Motozite team, within a short span of time, has shown that with the right experience and strategy, they can change the way people shop in the luxury segment. We back them because of the strong team background and quick execution capabilities,” said Bhawna Bhatnagar, Co-founder, We Founder Circle.
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