Full-stack Mobility Startup Automovill Raises $500K In Bridge Round
Automovill, a Bengaluru-based full-stack mobility startup, has raised $500,000 in a bridge round from Mumbai Angels Network with participation from existing investor NEDFi Venture Capital.
The funding round was led by Jay Nagrecha and Sandeep Daga, who participated through Mumbai Angels Network.
As per the startup, it will use the funding to bolster its technology adoption, expand its footprint in multiple cities, and hire mid-level executives to manage the increase in business. Additionally, Automovill will use a part of the funds to ramp up the infrastructure of its existing partner and hub networks.
Started by Mridu Mahendra Das and Chinmay Baruah in 2016, Automovill, with its technology-driven & 360 degrees approach, offers a one-stop solution for all automobile services. Providing a platform to aggregate automobile service providers, the startup connects vehicle owners with all kinds of automobile service providers under one roof. Ramana Sambu recently joined Automovill as its co-founder and CBO.
Speaking on the development, Mridu Mahendra Das, Co-founder of Automovill, said,
“The change in the mobility sector and post-COVID-19 demand in private vehicles has been a great boost for Automovill to increase its customer base across the country. With the experienced team and adoption of technology in process automation, quality control, and increased retail customer base, Automovill aims to increase its footprints in the B2B and B2B2C segments, including auto insurance providers.”
Automovill aims to reach the mark of 1.5 lakh orders by the end of the fiscal. With a presence in 12 cities with direct retail customers in Bengaluru, Delhi-NCR, Hyderabad, and Guwahati, the startup claim to have serviced over 100,000 cars for both retail and B2B clients since its inception.
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