Vehicle Maintenance Startup MotoMojo Secures Seed Round From Founders of Ventes Avenues
MotoMojo, a mobile app based vehicle maintenance startup, has raised an undisclosed amount of funding in the seed round from the founders of Ventes Avenues.
In the current funding round, Niloufer Dundh, Fauzan Rahim and Balamurugan Mani, the three cofounders of Ventes Avenues, have invested in MotoMojo in their personal capacity.
The newly raised funds will be used by the company to build its product and team, as well as for customer acquisition. It currently has presence in Mumbai, Navi Mumbai and Thane.
Arjun Uttam, founder of the company, said,
We will focus on gaining a robust leadership position in the city before moving on to other cities like Pune, followed by either Delhi or Bengaluru by the end of the year.
Founded in March 2016 by Arjun Uttam, MotoMojo connects users to local garages and vendors using an app-based on-demand hyperlocal model. The app directs users to the nearest providers of the service they are looking for.
The users also have an option of contacting the service provider directly or putting in a request with the company. The services range from car washing to changing tyres to complete servicing.
As per the company, it is servicing about 50 vehicles per day at present and has a network of 2,500 garages in Mumbai.
Fauzan Rahim, co founder of Ventes Avenues said:
This is a very fragmented space and we see a lot of potential in it. Since everything is moving the ‘app way’, this is a great product as it helps remove uncertainty which consumers face when they go to a local mechanic or garage.
According to CII-ACMA, the automotive after-market servicing business in India is pegged at about $2 billion (excluding spare parts) in 2015. In this space, MotoMojo will be competing against the likes of Cartisan, which recently raised funding from YouWeCan Ventures and others.
This article originally appeared on Tech Portal.