Automovill has raised $500,000 in a funding round led by Mumbai Angels Network and the participation of existing investor NEDFi Venture Capital. The startup has now raised a total of $1.2 million. The funds will be used for supporting technology, geographical expansion, and mid-level hiring, and ramping up the infrastructure of existing partner and hub networks, according to the company’s statement.
“The change in the mobility sector and post-covid demand in private vehicles has been a great boost for Automovill to increase its customer base across the country,” said Mridu Mahendra Das, founder of Automovill. “With 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,” he added.
Automovill is founded in 2016 and offers a one-stop solution for all automobile services and is among the fastest-growing after-sales service companies in India, according to its website. It has partnerships with over 500 multi-brand workshops and has handled over 50K orders so far. “Mobility is one of the fastest-growing sectors with an active market, and it’s important for players in the space to develop and grow with increased technological adoption and scaling,” said Nandini Mansinghka, Co-founder and CEO of Mumbai Angels Network.