Chennai Angels, Keiretsu invest more in auto services startup GoBumpr
North Automotive Solutions Pvt. Ltd, which operates the GoBumpr automotive services platform, has raised $ 600,000 (around Rs 4 crore) in a pre-Series A funding round from existing investors The Chennai Angels (TCA) and the global network of investors Keiretsu Forum.
In a statement, GoBumpr said people who contributed on behalf of TCA included Vinod Kumar Dasari, managing director of Ashok Leyland; Shankar V, director at Acsys Investments; Ramaraj R, founding member of Elevar Advisors.
Priyamvada Balaji, full-time director of Lucas Indian Service; Ramesh Mangaleswaran Senior Partner at McKinsey; and Gopal Mahadevan, CFO at Ashok Leyland were the other members of the angel network who attended.
“We have established a presence and expanded GoBumpr services in Bengaluru and Chennai over the past 12 months,” said Karthik Venkateswaran, Co-Founder of GoBumpr. “With our success in these two subways, we are confident that we can adapt the platform not only to other subways, but also to other companies in the automotive aftermarket. “
In February of last year, GoBumpr raised $ 300,000 led by The Chennai Angels.
Previously, the startup had raised funds from the Chennai chapter of the global angel network Keiretsu Forum during the second half of 2016.
GoBumpr was founded by Karthik Venkateswaran, Nandha Kumar Ravi and Sundar Natesan in August 2015.
Venkateswaran and Ravi are alumni of the Indian Institute of Management-Shillong, while Natesan is a graduate of the College of Engineering, Guindy, Chennai.
The startup offers car and bike owners an end-to-end platform where they can find, book and pay for automotive services.
GoBumpr provides various services including regular maintenance, repair work, bodywork including denting, DIY, painting and also offers 24 hour road assistance. It is currently operational in Chennai , Coimbatore, Bengaluru, Hyderabad and Trichy.
“Beyond services, extending the GoBumpr platform to aftermarket parts, tires, accessories and used cars has worked very well for the company and this global aftermarket technology platform will be a boon for the company. industry, ”said Dasari of Ashok Leyland.
Offers in space
In April, Bengaluru-based automotive aftermarket provider Pitstop raised $ 1.6 million (Rs 10.6 crore) in a pre-Series A funding round from existing investors led by Singapore-based Goldbell Group and Blume Ventures.
A month earlier, the company had acquired MotorWhiz, a mobile platform for car maintenance and repair work, in a cash and stock deal.
Also in April, auto maintenance startup Carcrew Technology Pvt. Ltd, backed by TVS Group, had raised $ 2 million (Rs 13 crore) in a new pre-Series A round led by a private equity firm.
Prior to that, the startup had purchased Delhi-based ClickGarage as part of a share purchase transaction in February.
In December of last year, Noida-based online auto services startup GarageOnRoad raised an undisclosed amount in a fundraising round with Gaurav (Jerry) Gupta, senior vice president of the multinational company. Swiss Re reinsurance.