Automobile servicing platform MotoMojo raises angel funding from founders of Ventes Avenues
Mumbai-based MotoMojo, an app-based vehicle maintenance platform, has raised an undisclosed amount of angel funding from Ventes Avenues. With this round of funding MotoMojo plans to ramp up its product capabilities, marketing and also building on-ground customer service support.
“In the next couple of months, we aim to build a service that will create a sustainable business and help customers discover best services. We have plans to scale up its services across major metros in India over a period of time,” says Uttam Arjun, Founder, MotoMojo.
Launched in March 2016, the startup currently offers services across Mumbai, Navi Mumbai and Thane, where it helps connect customers with garages at affordable prices. It claims to have a network of over 2,500 garages across the city.
Uttam adds that he believes that the largely fragmented market of automobile servicing is in dire need of such solutions since the true idea of a reliable service is lost once the sale or purchase of the vehicle is completed. “With a host of service providers catering to regular servicing and maintenance of two-wheelers and four-wheelers, we are looking at tapping into this huge market of 192 million vehicles that is set to scale up exponentially. We have an in-house team of experts to help customers choose the services that are ideal and thus aid in decision making.”
On this investment, Niloufer Dundh, Co-founder, Ventes Avenues says, “We partner with startups to help them grow and monetise their inventory. We see huge potential in the auto garage service space and feel that we will be able to best leverage our potential to nurture and grow this startup.”
Market and competition
According to CII-ACMA, in 2015, the automotive after-market servicing business in India waspegged at about $2 billion (excluding spare parts).
In recnt months a number of startups have launched in this segment, including GetCarXpert, Cartisan, MotorExpert, Bumper and MeriCar. Some of these startups have also been able to raise funds from investors.
In July 2015, Bengaluru-based automotive service marketplace Cartisan raised an undisclosed amount in its seed round funding from YouWeCan ventures, Global Founders Capital, TaxiForSure’s Aprameya R and others.