Car service startup AutoBrix acquires AI-based auto service company Cartisan
Acquisition of Cartisan will allow AutoBrix to enter periodic maintenance and repairs business. Its founder Venkat Sreeram will join AutoBrix as an advisor.
Car-care service startup AutoBrix announced on Thursday, November 5, that it has acquired Xenon Automotive-owned Cartisan.
With this acquisition, AutoBrix entered the car periodic maintenance and repairs business, allowing it to offer doorstep car services to its customers. Cartisan founder, Venkat Sreeram will be joining AutoBrix as an advisor.
Bengaluru-based AutoBrix was founded by Pratibha Shalini and Kalyandhar Vinukonda in 2018. It provides doorstep car-care services to a more than one lakh customers across all the Indian metro cities. The startup has raised $2.5 million across three rounds of funding from angel investors. Earlier, AutoBrix had acquired Washygo and Carnanny.
Founder, COO and CPO Prathibha said in a release:
"A strong product or service to our pre-established user base or potential new users in the new segment — these are the two most important parameters we look for in any company before acquiring. Cartisan brings both to AutoBrix...it will surely help us to fast-track our journey to capture more market share."
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This acquisition will further add new technical capabilities to AutoBrix in the form of a unique computer vision solution. The artificial intelligence technology helps car owners identify and assess the damage condition of their car by capturing images through Autobrix app and generate instant standardised estimates of the repair cost. This will allow AutoBrix provide transparent and efficient customer specific services and increase its knowledge of the auto service market.
According to IBEF, India became the fourth largest auto market in 2019, displacing Germany. The Indian market is further expected to displace Japan to become the third-largest auto market by 2021.
Founder of Taxi For Sure and investor in Cartisan Aprameya Radhakrishna said, "The acquisition of Cartisan will enable Autobrix to rapidly scale up their car services vertical and leverage experience and technology built by the Cartisan team over the last five years – to ultimately serve car owners better."
Edited by Kanishk Singh